Taxation and superannuation support for accountants and lawyers

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Subdivision and development of a main residence

Binding Death Benefit Nominations

5 August 2014

 

What happens to a member's superannuation funds when they die?  One way the member can control this is by having a valid and effective Binding Death Benefit Nomination.  Self Managed Superannuation Funds have a good deal of flexibility in how such nominations are made.  But there is a downside.  The nomination may not be effective.  What should advisers tell their clients about BDBNs? Do changes need to be made to the superannuation fund's deed?

Part IVA

23 July 2014

 

The "new" Part IVA has been operative since November 2012. As this is the general anti-avoidance provision of the Australian income tax law, all tax advisers need a working knowledge of how it operates.  But do we know how it will be interpreted by the courts?  How will the ATO apply Part IVA now?