Taxation & Estate Planning

Taxation & Estate Planning Articles

Challenging a will based on mental capacity

APRIL KENNEDY | Comments | FRIDAY, 20 NOV 2020

Capacity can be an emotionally charged topic, especially in relation to dementia or Alzheimer's disease and other degenerative conditions. This paper discusses how a Will might be challenged on the basis ... Capacity ... Read more

Leaving a gift to charity

GEOFFREY MILANI | Comments | TUESDAY, 27 OCT 2020

Many people generously leave gifts to charities in their Wills to support the community or important causes. Unfortunately, these gifts sometimes run into issues when the charities named in the Will ... Read more

Claiming work from home expenses

LYNNE GIBSON , LETTY CHEN | Comments | FRIDAY, 21 AUG 2020

Expenses associated with the running of an individual's home are usually private and domestic and nature. However, deductions for 'home office expenses' may be available under section 8-1 ... Expenses ... Read more

The main residence exemption

JANET MANZANERO-CARUANA | Comments | FRIDAY, 31 JAN 2020

Selling one's home without the main residence exemption can mean a substantial tax bill. The capital gains tax (CGT) main residence exemption (the exemption) is available to all Australian residents. Selling ... Read more

Enduring powers of attorney

KERSTIN GLOMB | Comments | FRIDAY, 27 SEP 2019

Most people have come across enduring powers of attorney (EPA), but there is still uncertainty around what an attorney can and cannot do. An EPA is a legal document that allows a person (which may be ... Most ... Read more

Untaxed elements: a hidden death tax

KEAT CHEW | Comments | THURSDAY, 15 AUG 2019

Apart from super benefits paid from an untaxed super scheme - usually Commonwealth and State government pension funds - there are only limited circumstances where an untaxed element arises in a taxed ... Apart ... Read more

Using the small business CGT concessions for super

GRAEME COLLEY | Comments | FRIDAY, 5 JUL 2019

If you are a small business owner, the capital gains tax (CGT) small business concessions allow you to increase your retirement savings significantly. Fortunately, the maximum thresholds for the concessions ... If ... Read more

Can a surviving spouse claim their deceased spouse's super when they are also the executor of their estate?

DANIEL BUTLER , SHAUN BACKHAUS | Comments | FRIDAY, 26 APR 2019

The recent case of Burgess v Burgess [2018] WASC 279 ('Burgess') continues a line of cases that consider the conflict that arises where a person acts as executor of a deceased estate while also ... The ... Read more

Taxing times for investors

DON HAMSON | Comments | FRIDAY, 5 APR 2019

The ALP is proposing a raft of tax changes that will negatively impact after tax outcomes for many Australian investors should they be enacted. Arguably the most controversial is the removal of cash ... Read more

To use or defer concessional super contributions

SCOTT QUINN | Comments | FRIDAY, 8 MAR 2019

With the ability to use catch-up concessional contributions starting from 1 July 2019, we've been asked the following question by an adviser: If my client realises a large capital gain next financial ... With ... Read more

Five important super estate planning considerations

WILLIAM MOLONEY | Comments | WEDNESDAY, 20 FEB 2019

Helping clients with their estate planning needs is a vital aspect of the financial planning process with superannuation being an important component of the plan. The 2017 super reforms were wide ranging ... Helping ... Read more

Superannuation death benefits

YVONNE CHU | Comments | FRIDAY, 26 OCT 2018

A lump sum superannuation death benefit paid to someone who is not a death benefits dependant for tax purposes can be subject to significant tax (refer to Table 1 for details). In contrast, lump sum ... Read more

Salary packaging and novated car leases

STUART SHEARY | Comments | FRIDAY, 17 AUG 2018

For employees who do not have enough money saved to buy a car outright there are a number of options. They can finance the purchase through a private loan, private car lease or via a novated car lease ... For ... Read more

New opportunities for tax-deductible contributions

YVONNE CHU | Comments | FRIDAY, 29 SEP 2017

WHAT'S CHANGED? From 1 July 2017, the 10% test that previously applied to personal deductible contributions has been removed. As a result, all clients under the age of 75 (including those aged 65 ... WHAT'S ... Read more

Binding or reversionary nomination - impact on transfer balance cap

RAHUL SINGH | Comments | FRIDAY, 7 JUL 2017

1 July 2017 heralds the start of a new set of rules relating to superannuation. A number of changes affect payment of a superannuation death benefit, requiring a change of thinking. Estate planning and ... 1 ... Read more

Professional Standards: Opportunities on the horizon

EMMA RAPAPORT | Comments | FRIDAY, 2 JUN 2017

After years of public scandals, special investigations, and allegations of sub-par qualification standards, negotiations between Canberra and a 23,000 strong financial adviser industry have come to a ... After ... Read more

Achieving higher levels of sales performance in a demanding world

ANN HERRMANN-NEHDI | Comments | FRIDAY, 2 JUN 2017

In today's world it's increasingly challenging to grow top-line revenue, win new business, maintain client loyalty and retain top sales talent. The organisations that can successfully align the ... In ... Read more

Tracking the alpha female

BRIE WILLIAMS | Comments | FRIDAY, 24 MAR 2017

Women have quickly moved in to the role of influential investor. In the US alone, they now control $11 trillion in investable assets, and their long-term perspective tends to result in better risk and ... Women ... Read more

Generation rent: The symbiosis of apartment REITs and millennials

CHRIS DEVES | Comments | FRIDAY, 24 MAR 2017

The ever-changing consumption pattern of real estate, juxtaposed against its status as perpetual imperative for a functioning society, presents an interesting dynamic - and is precisely that which offers ... The ... Read more

Why successor directors are better than alternate directors for SMSF succession planning

BRYCE FIGOT | Comments | FRIDAY, 24 MAR 2017

This article will address the problems that can arise in using alternate directors in an SMSF succession planning context and suggest a possible solution. As with all succession planning discussions ... This ... Read more

Dealing with death in the new world

JOSH RUNDMANN | Comments | FRIDAY, 13 JAN 2017

With the raft of super changes which parliament recently passed, there have been some smaller amendments which have a profound impact on the way pensions will operate when it comes to death, post-1 July ... With ... Read more

When charitable gifting makes 'tax-effective sense'

WILLIAM TRUONG | Comments | FRIDAY, 4 MAR 2016

For some, charitable giving is part of a lifelong mission to help others and goes far beyond donating clothes or making small, one-off donations to support a favourite cause. For these people, charitable ... For ... Read more

LRBAs and related party loans

MARTIN MURDEN | Comments | FRIDAY, 4 MAR 2016

A few years ago there was much excitement when the National Tax Liaison Group (Superannuation subcommittee) decided that if a related party made a loan to a Self-Managed Superannuation Fund [SMSF] at ... A ... Read more

Roadmap for a new landscape: managing the transition of wealth across generations

SPDR PRACTICE MANAGEMENT, STATE STREET GLOBAL ADVISORS | Comments | FRIDAY, 4 MAR 2016

Financial advisers today face what is perhaps their most significant challenge yet: helping clients to move from inertia to activity in planning for the transfer of their wealth - while ensuring asset ... Financial ... Read more

The road to reward

RAEWYN WILLIAMS | Comments | TUESDAY, 3 NOV 2015

Investing with an after-tax focus is an idea whose time has come. But every idea is only as good as its implementation, and superannuation funds are now facing the important question of who can help. Investing ... Read more

Financial Planning for UK Expatriates Living in Australia

FRANK MULCAHY | Comments | TUESDAY, 3 NOV 2015

Being a UK expatriate in Australia means that there is an additional layer of complexity in managing your financial planning, no matter how long since you lived in the UK. This White Paper discusses ... Read more

Common financial planning issues stemming from the small business CGT relief measures

IOOF TECHNICAL SERVICES | Comments | THURSDAY, 11 DEC 2014

You're invited to a meeting with an accountant to talk about a client's entitlement to tax relief under the small business capital gains tax (CGT) concessions. Knowing you can't provide tax ... You're ... Read more

Estate planning for different life stages

ANNA HACKER | Comments | THURSDAY, 11 DEC 2014

Estate planning is not just the preserve of the elderly or the sick. Every Australian, regardless of their age or health, should consider an estate plan that takes into account their assets and family ... Estate ... Read more

Death and taxes - what you need to know

HENRY WALACHOWSKI | Comments | THURSDAY, 10 JUL 2014

What do you do if you and your spouse have an SMSF and want to ensure that your superannuation entitlements get paid to your preferred beneficiary if you pass away? What do you do if you and your ... Read more

The TASA reform

DANTE DE GORI | Comments | THURSDAY, 10 JUL 2014

The new financial year has arrived with a bang for financial planners with the Tax Agent Services Act 2009 (TASA) regime now applying to the profession. Fortunately, there is a three year transition ... Read more

The growing need to provide advice in aged care

ANNA LAWTON | Comments | TUESDAY, 25 MAR 2014

To understand the need for advice for those needing aged care, we need to understand what it is that causes a person to seek advice in the first place. To understand the need for advice for those ... Read more

After-tax investing: one size does not fit all!

PETER GARDNER , DON HAMSON | Comments | TUESDAY, 13 AUG 2013

There are various issues that Australian share investors should consider regarding tax rates, including the proper management of tax lots. There are various issues that Australian share investors ... Read more

Small business CGT concessions

MARK RATCLIFF | Comments | TUESDAY, 13 AUG 2013

he Small business tax concessions are a specific part of the income tax legislation which allows Australian resident tax payers which incur a capital gains liability from the disposal of a small business ... he ... Read more

Newsagents' wills: the alarm bells go off

LINDSAY STODDART | Comments | WEDNESDAY, 3 APR 2013

Tell your clients how they can avoid tens of thousands of dollars in litigated fees, family grief and anguish all because of a $29.95 will they bought from their local newsagent. Tell your clients ... Read more

How long will SMSF taxation concessions last?

LINDSAY STODDART | Comments | MONDAY, 9 JUL 2012

In this paper Lindsay Stoddart, Stoddart Legal, explores what the future holds for self managed super fund tax concessions. In this paper Lindsay Stoddart, Stoddart Legal, explores what the future ... Read more

Insurance claims taxed - when and why

JONATHAN DE FRIES | Comments | MONDAY, 9 JUL 2012

From a tax perspective, most advisers when working in personal insurance may concentrate on deductibility of premiums and whether to hold insurance in or out of super. Advisers working in business insurance ... From ... Read more

Special disability trusts - now worth another look

DEBORAH WIXTED | Comments | MONDAY, 9 JUL 2012

Family members and carers of people who have a severe disability have been able to establish a special disability trust since 20 September 2006. The purpose of this trust is to provide financial assistance ... Family ... Read more

Latest SMSF estate planning trends and strategies

DEBORAH WIXTED | Comments | MONDAY, 5 DEC 2011

With over half of all SMSF members aged 55 or over, and one-fifth aged 65 or over, it's more important than ever to plan for the succession of SMSF benefits, fund assets and funds. This paper will canvass ... With ... Read more

Blinded by the bite: Challenging the importance of tax in the active-passive choice

RAEWYN WILLIAMS | Comments | FRIDAY, 11 MAR 2011

This paper follows on from a series of Russell research papers advancing a framework for choosing between active and passive investment styles. This paper introduces an after-tax investing perspective ... This ... Read more

Reducing Australia's Tax Distortions - The Taxation of Financial Arrangements and Enhancing Financial Risk Management

IAN MATHIESON | Comments | MONDAY, 27 SEP 2010

The Taxation of Financial Arrangements, or TOFA, is one of the most significant changes to occur to the Australian Taxation Act over the past two decades. Its aim is to reduce existing taxation distortions ... The ... Read more

The New Intestacy Law in NSW - What Your Client Needs to Know

KERSTIN GLOMB | Comments | SUNDAY, 10 MAY 2009

Kerstin Glomb is a solicitor at Argyle Lawyers specialising in the areas of estate planning and estate administration and she looks into the changes to intestacy law in New South Wales effective in March ... Kerstin ... Read more

Investment Bonds - Useful in Clients' Retirement Savings and Estate Planning Strategies

TONY DI GIROLAMO | Comments | THURSDAY, 14 JAN 2010

Continuous changes made to the superannuation system, limitations on annual super contributions and a backlash against complex and investment structures due to the global financial crisis are a few reasons ... Continuous ... Read more

R&D Tax Credits - A Fresh Start

TRACEY MURRAY | Comments | THURSDAY, 14 JAN 2010

The Labour government's new R&D tax credit program seeks to motivate Australian companies with additional incentives to put more resources into research and development activities. The decision ... The ... Read more

Motivating Retirement Planning

LESTER WILLS | Comments | THURSDAY, 14 JAN 2010

For many Australians, retirement planning is a distant thought. According to Dr Lester Wills, many studies have already shown that a majority of us are not planning for retirement properly. In his paper ... For ... Read more

Project Managing the Contingency Planning Needs of SME Clients

RUSSELL HANNAH | Comments | THURSDAY, 14 JAN 2010

Russel Hannah believes that the most valuable asset of businesses are its people, and without key individuals, most small to medium-size businesses (SMEs) are unlikely to reach their full potential. ... Read more

Tax advice and financial planners

RAY NEALE , LEIGH SMITH | Comments | SUNDAY, 1 JAN 2006

In July 2004 the Australian Taxation Office (ATO) issued draft determination TD2004/ D22.This draft determination presented a view that tax advice given in a non-representational capacity,which was incidental ... In ... Read more

Federal Budget has little impact on high effective marginal tax rate

BENEDICT DAVIES | Comments | SUNDAY, 1 JAN 2006

The Treasurer's 11th Budget was headlined by the announcement that the top two rates of tax are to be cut by 2 cents in the dollar and the tax brackets are to be uplifted. However, there were only ... The ... Read more

ESOPs as business, financial and estate planning vechicles

JOHN DAY | Comments | SUNDAY, 1 JAN 2006

Employee share ownership plans (ESOPs) provide participating employees with an ownership stake in their company and an opportunity to reap the rewards emanating from that ownership. ESOPs also provide ... Employee ... Read more

Employment termination payments

ROBERT LAVERY | Comments | MONDAY, 1 JAN 2007

Before 1 July 2007, employment termination payments and payments from superannuation funds were both 'eligible termination payments' which received similar tax concessions to encourage individuals ... Before ... Read more

Portfolio turnover's impact on the tax efficiency of active equity strategies

DON HAMSON | Comments | MONDAY, 1 JAN 2007

Most performance surveys for Australian sector funds are presented in gross terms, before fees and particularly before tax. But both fees and taxes are important for most investors in Australia. In this ... Most ... Read more

Borrowing by super funds - a new era of advice

TIM PEPPER | Comments | TUESDAY, 1 JAN 2008

In the final days of the Howard Government new laws were passed which allow super funds to borrow using a specific type of structure. These new laws have been quite broadly drafted but there are traps ... In ... Read more

Do your small business clients have an exit plan?

PETER GANDOLFO | Comments | FRIDAY, 22 MAY 2009

Peter Gandolfo heads up the legal division of Partners Group. In this paper, Peter argues that succession planning is critical. He then details a 12-step program to implement orderly succession. A succession ... Peter ... Read more

Beating the generation gap

NATALIE SILLAR | Comments | FRIDAY, 22 MAY 2009

Natalie Sillar uses this paper to provide a diverse range of marketing and sales ideas about generational marketing. Natalie is at BT Financial Group which has developed three toolkits to empower financial ... Natalie ... Read more

The super death trap

JOCELYN FURLAN | Comments | FRIDAY, 22 MAY 2009

Jocelyn Furlan is the Acting Chairperson of the Superannuation Complaints Tribunal. In this role she sees many super fund death benefit cases. This gives her an excellent insight into common issues that ... Jocelyn ... Read more

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