People signing on behalf of a company will no longer be required to physically ‘wet’ sign documents or do so in the presence of a witness. townsendslaw.com.au/electronic-sig…

Townsend Law’s Peter Townsend finds that clients regularly ask whether when they die, they can give their superannuation to their grandchildren. The short answer is “no”. townsendslaw.com.au/paying-super-y…

The Tax Office recently released its long-awaited guidance on how it will treat distributions from a family trust in situations where it believes that someone other than the recipient of the trust distribution will actually obtain the benefit of it. townsendslaw.com.au/ato-takes-aggr…

A superannuation fund can be wound up voluntarily or intentionally and the rules relating to winding up a superannuation fund are the same for any other trust. townsendslaw.com.au/accidental-ves…

What’s the hype with NFTs? These days almost anything digital can be an NFT – drawings, paintings, music, signed photos etc. townsendslaw.com.au/from-bitcoins-…

From 1 July 2022 the new law will permit a super fund to accept a personal superannuation contribution from an individual aged between 67 and 75 years regardless of whether the individual meets the work test. townsendslaw.com.au/work-test-chan…

Electronic execution changes raise the issue of whether the company needs to change its constitution in order to be able to rely on the powers in the legislation. townsendslaw.com.au/electronic-sig…

Carter court case most important since Bamford •Six significant implications from Carter case •Three things advisers should consider for clients post Carter decision townsendslaw.com.au/carter-court-c…

Amendments made last month to the NSW Duties Act could cause material headaches to super funds holding real estate in NSW. The only remedy for those headaches is good compliance documentation. townsendslaw.com.au/new-headaches-…

From 1 July 2022, employers will need to pay super for their employees who are under 18 years old if they work more than 30 hours in a week. These changes again raise the issue of having your children as members of your self-managed super fund (SMSF). townsendslaw.com.au/peter-townsend…

You may be aware that toward the end of 2021, in a private ruling, the ATO confirmed the tax payable in respect of a gift of superannuation to a member’s estate where that super is to be held in a testamentary discretionary trust. Read the full article: townsendslaw.com.au/superannuation…

Significant changes to the social security means test treatment of sale proceeds of the principal home. townsendslaw.com.au/incentivising-…

From 1 July 2022 the eligibility age for the beneficiary of the Downsizer Contribution was reduced from age 65 to 60. Government has now proposed the age for be further reduced from age 60 to age 55. townsendslaw.com.au/downsizer-cont…

Is it possible to make a last minute withdrawal before you die and the payment, if made after you have died, still be treated as being tax free? Well Yes – according to a recent private binding ruling from the Commissioner (PBR 1051988780639). townsendslaw.com.au/last-minute-wi…

The rules relating to what a self-managed superannuation fund can and cannot invest in are complex and for the uninitiated appear confusing and alien. But there is a basic logic to them. townsendslaw.com.au/back-door-bene…

October Budget 2022 – dot point summary of super aspects Previous Government’s unlegislated tax/super measures – to be dumped townsendslaw.com.au/october-budget…

SUPERCentral announces 2023 estate planning course dates supercentral.com.au/resource-centr…

One modest change that affects less than 0.5% of all Australians. With these words the Treasurer advised that the Government will impose a special rate of earnings tax of 30% on earnings on super balances of $3m and above.supercentral.com.au/resource-centr…

Can I help my daughter with super to buy a first home? The risk that Labor will either abolish or foreshadow the end of the Home Saver Super Scheme as early as the May budget makes this strategy more uncertain. supercentral.com.au/resource-centr…

Transfer Balance Cap – increase to $1.9m This cap, which is currently $1.7m, will be increased to $1.9m with effect on 1 July 2023. The increase of $200,000 in the gap is due to indexation. supercentral.com.au/resource-centr…