Superannuation Death Tax – 17% or 32% tax for adult children when parents die
When you die with superannuation two questions arise: Firstly, who gets the money? How can you ensure it goes where you want and not where the trustee decides? Secondly, what tax is payable by the recipient? What steps can you take to reduce the tax burden on the...Unit Trusts lasting 80 years extend longer? How many Unit Holders is allowable?
Can a Unit Trust live forever? A Unit Trust is similar to a company. Each Unit gives an exact value of the interest in the Unit Trust’s underlying assets. Say there are two units in the Unit Trust. If you own one unit, you own 50% of the Trust’s assets. If you own...Reversionary Pensions
Reversionary Pensions from dead husband – do they count towards your $1.6m pension? Reversionary pensions allow your spouse’s super to remain in super after they die – but there are problems. You can have more than $1.6m in your Superannuation fund....SMSF vs 3-Generation Testamentary Trust
SMSF vs Testamentary Trust ‘No longer is Super a tax haven or an Estate Planning tool – it is only for your retirement.’ Canberra speaks Super ‘loop-holes’ closed On 1 July 2016, the Liberals successfully passed legislation to make it...Garden leave in Employment Contract
Ron Dennis vs McLaren F1 team Ron Dennis and the McLaren F1 team had a fight. Even the world of Formula 1 is not protected from the clutches of employment law. It’s a perfect example of Garden leave. What is garden leave? ‘Gardening leave is a colloquial...Contractor vs Employee
Contractor vs Employee Many contractors are now employees – under the new rules You call yourself an independent contractor. Your business operates out of a company. However, the new rules mean that you are still an employee. The Contractor vs Employee question...Abandon a gift in a Will to keep the pension?
Abandon a gift in a Will to keep the pension? The Financial Planner carefully structures Mary’s affairs. Mary receives a $1 pension and a Concession Card. But then, Mary’s mother dies. Mum’s Will leaves everything to Mary. The inheritance costs Mary her $1 pension and...How to build legal documents online:
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