testamentary trust basics

135 | Power of Attorney and Enduring Guardianship

Enduring power of attorney deals with money, assets and wealth,  while enduring guardianship deals with medical decisions.

Power of Attorney and Enduring Guardianship

134 | Testamentary Trust Basics

Whether a testamentary trust is a good idea or a waste of your time depends on the size of your estate, your intentions and your beneficiaries.

133 | ITAA97 NANE

On the 1 July 2018 a new approach to the non-arm’s length concept came to life. Non-arm’s length expenses (NANE).

132 | ITAA97 NANI

ITAA97 NANI is overlooked but dangerous. s295-550 ITAA97 doesn't get much limelight but is more dangerous than s109 of the SIS Act.

131 | SIS Act NANI

SIS Act non-arm's length income features in pretty much every sole purpose test court case.  

126 | Tax Talks Q & A

This  Tax Talks Q & A goes through 10 questions and comments you sent in up to April 2019.

125 | In-Specie Contributions and Payments

In-specie contributions and payments are complex since you get two transactions "for the price of one".

Death Benefit

123 | Death Benefit

A death benefit is any payment your super fund makes after you die. Here is Gordon Mackenzie of UNSW with more.

age pension

121 | Age Pension

Qualifying for the age pension is an arduous exercise as you need to pass four hurdles. Let's go through these one by one.

Property vs Shares

116 | Property vs Shares

Property vs shares - how are they taxed differently?  Bob Deutsch, Senior Tax Counsel of The Tax Institute, pursues this question.

Life and Remainder Interest

115 | Life and Remainder Interest

A life and remainder interest is often used in a testamentary setting. Here is Michael McCarthy of Tax & Super Australia with more.

Deceased Estate

114 | Deceased Estate

A deceased estate entails a myriad of legal and tax questions. Here is Michael McCarthy of Tax & Super Australia with the answers.

Binding Death Benefit Nomination

113 | Binding Death Benefit Nomination

Binding death benefit nominations are an important part of SMSF succession. Daniel Butler of DBA Lawyers will tell you more.

SMSF Succession

112 | SMSF Succession

How does SMSF succession work? Daniel Butler of DBA Lawyers in Melbourne gives you a helpful overview and shares some war stories. Here is what we learned.

Financing Aged Living

103 | Financing Aged Living

How do you finance aged living? John Saunders of The Pittwater Partnership will walk you through RAD, DAP and the lot.

aged living

102 | Aged Living

How do we support aged living in Australia?  John Saunders of The Pittwater Partnership will walk you through the options.

Taxation of Trusts

96 | Taxation of Trusts Div 6 ITAA36

The taxation of trusts lives in the 'old' ITAA36. Paul Mackenroth of Cleary Hoare in Brisbane will walk you through the framework of Division 6. 

Family Trust Elections

95 | Family Trust Elections

Family trust elections play an important role but are not a one-size-fits-all solution. Paul Mackenroth of Cleary Hoare in Brisbane will tell you more.

Trust Structure

91 | Trust Structure

Choosing the right trust structure is an important step to effectively manage and administer wealth. Here is Paul Mackenroth of Cleary Hoare with more.

Set Up a Discretionary Trust

90 | Set Up a Discretionary Trust

How do you set up a discretionary trust? Paul Mackenroth of Cleary Hoare in Brisbane will walk you through the process.

Duties of Trustees

89 | Duties of Trustees

The relationship between trustee and beneficiary is defined by rights and duties. Paul Mackenroth of Cleary Hoare in Brisbane will tell you more.

TRIS to Retirement Phase

88 | TRIS to Retirement Phase

When moving a TRIS to retirement phase, does it matter when you notify the trustee? Meg Heffron of Heffron SMSF Solutions has the answer.

when a member dies

87 | When a Member Dies

When a member dies, there is a lot to deal with in the aftermath - including the member's SMSF. Here is Meg Heffron of Heffron SMSF Solutions with the details.

Bring-Forward Rule

86 | Bring-Forward Rule

The bring forward rule for non-concessional contributions now needs to work around the TSB. Meg Heffron of Heffron SMSF Solutions will tell you more.


82 | Segregation

To segregate or not - that is a big question and affects ECPI. Melanie Dunn of Accurium will walk you through the details.

elements of a trust

80 | Elements of a Trust

There are over 800,000 trusts. Paul Mackenroth of Cleary Hoare in Brisbane will walk you through the elements of a trust.

Div 7a Payments

51 | Div 7A Payments

Div 7A payments can turn into an expensive exercise. Including transfer or provision of company assets. Peter Adams of Augmentor will tell you what this is all about. 

Div 7A loans

50 | Div 7A Loans

You could summarise the basic concept of Div 7A loans in one sentence. But there is a lot more to it.  As Peter Adams of Augmentors will tell you.

personal insurance inside or outside of super

40 | Personal Insurance Inside or Outside of Super

Personal insurance inside or outside of Super? Mistakes can cost dearly. Daniel Mikhail of Partners Wealth Group will guide you through the intricate details.

The Great Debate

33 | The Great Debate

If you could change one thing about the Australian tax system, what would it be and how? Robert Deutsch of The Tax institute asked that question. 

estate planning

28 | Estate Planning

Estate planning is complex because it has so many moving parts: trust law, super law, tax law, family law. Ben Symons of State Chambers, NSW will walk you through the jungle.

family law

18 | Family Law

To sort out the tax side of a relationship breakdown, it helps to understand the legal side. Here is Angelina Torrisi of Family Law Practice.

offshore SMSF work

2 | Why Not To Offshore SMSF Work



Income Tax Payable and Provision for Income Tax

71 | Income Tax Payable and Provision for Income Tax

Your Statement of Financial Position usually shows an income tax payable and a provision for income tax. What is the difference?
Div 7A UPE

70 | Div 7A UPE

The scenario of a Div 7A UPE can result in a huge tax bill.  UPE stands for unpaid present entitlement.
15-Year Exemption

62 | 15-Year Exemption

The small business 15-year exemption is the most generous of the four small business CGT concessions.
Affiliates and Connected Entities

58 | Affiliates and Connected Entities

The concept of affiliates and connected entities plays a crucial role around the small business CGT concessions.
Ryan Wealth v Baumgartner

55 | Ryan Wealth v Baumgartner

Ryan Wealth v Baumgartner is the latest calamity in the new practice by trustees to get the SMSF auditor to pay for dumb investment decisions.
transferor trusts

53 | Transferor Trusts

If Australia didn’t have rules around transferor trusts, you could ‘park’ assets and income in overseas trusts.

52 | Trusts as Companies

Corporate unit trusts and public trading trusts are trusts in a legal sense but treated as companies for tax purposes.
taxation of deceased estates

51 | Taxation of Deceased Estates

The taxation of deceased estates can be easy and it can be tricky.  It depends on what goes in, what happens while it is in there and how it leaves.
joint tenants or tenants in common

50 | Joint Tenants or Tenants in Common

You got married and just bid on a house. Should you buy the house as joint tenants or tenants in common?
Super is Not Part of Your Estate

49 | Super is Not Part of Your Estate

Super is not part of your estate. Here is the story of David Mandie's SMSF that set the precedent.
what goes into deceased estates

48 | Deceased Estates

When you die, everything you own will go into your deceased estate unless specifically excluded. And the devil is in these exclusions.
control test

47 | Control Test

A non-fixed trust can only deduct tax losses and debt deductions if there is continuity of control of the trust. So here comes the control test.
50% Stake Test

46 | 50% Stake Test

The 50% stake test is all about who has been holding more than a 50% stake in the trust and whether that has changed from the loss to the income year.

45 | Pattern of Distributions Test

The pattern of distributions test only applies to non-fixed trusts without a family trust election.
Income Injection Test

44 | Income Injection Test

The income injection test applies to all fixed and non-fixed trusts including family trusts. The only exception are excepted trusts that are not family trusts.
unit trusts fixed

43 | Are Unit Trusts Fixed

A unit trust is a very common feature in Australia. Most widely held trusts are unit trusts. But when are unit trusts fixed trusts and when not?
Trust Losses

42 | Trust Losses

Trust losses are not subject to the Division 35 non-commercial loss rules.  Instead the trust loss provisions in Schedule 2F ITAA36 apply.
reimbursement agreement

41 | Reimbursement Agreement

A reimbursement agreement is an arrangement, where the trustee channels trust distributions via beneficiaries to a third party. 
Revocable trust

40 | Revocable Trust

A revocable trust is a pretend game.  So the Commissioner can put an end to the charade and tax the trustee instead.
CGT Event E4

39 | CGT Event E4

A CGT event E4 can only happen in relation to a fixed or hybrid trust interest. The non-assessable part results in a cost base adjustment per s104-70 ITAA97.
how to stream trust income

36 | Streaming Trust Income Example

How to stream trust income sounds confusing enough in theory but gets even more confusing when you drown in numbers. But here is a simple example.
streaming of trust income

35 | Streaming Trust Income

Streaming of trust income is a good way to tax-effectively channel income to the right beneficiaries.
Who Pays the Income Tax for a Trust

34 | Who Pays the Income Tax for a Trust

Beneficiaries and/or trustee pay the income tax for a trust. But who pays how much?
Taxation of Minors Div 6AA

32 | Taxation of Minors Div 6AA

The taxation of minors in Division 6AA is an anti-avoidance provision. Anybody channeling certain income to minors is hit with punitive tax rates.
Division 6 ITAA36

31 | Division 6 ITAA36

Division 6 ITAA36 is the foundation for the taxation of trusts. Everything else wraps around Division 6.

30 | What is a Trust

There are more than 800,000 trusts in Australia with assets totalling more than $3 trillion. But what is trust?
Minimum Pension Payments

9 | Minimum Pension Payments

When you start a pension, you need to make minimum pension payments. Otherwise your fund loses its tax exempt status.