Legal

Is it time to update your SMSF Trust Deed?

Our team of experienced lawyers will ensure that you receive a robust, flexible and easy to understand Trust Deed.

I Still Call Australia Home

It is imperative that you take steps to ensure your SMSF remains compliant to avoid dramatic tax consequences, and that the documentation and processes put in place are tailored to your specific circumstances.

I’m free to do what I want any old time*

It is important to review family trust and SMSF succession arrangements as part of an estate planning engagement, and ensure specialist legal, financial planning and accounting advice is obtained.

Only the Good Die Young

Sophie Cohen shares 3 real-life stories to highlight the importance of young people having a Will.

Why superannuation death benefits advice is so important

Superannuation death benefits disputes are on the rise, resulting in superannuation death benefit litigation cases becoming increasingly common.

Happy Birthday To You!

Here are a few excellent reasons for young people to have their own estate plan

Estate v Non Estate Assets

Where there’s a will, there’s a way – familiar with that saying? Well in Estate Planning we like to say that where there’s a Will, there’s a simple way to distribute assets, but only the assets which form part of a deceased’s estate.

Digital Assets as Part of Your Estate Plan

Digital assets are often overlooked in Estate Planning – how will your online presence will be managed in the event of your passing?

It’s Always Been a Matter of (Family) Trust

This is the final instalment in my trusts trilogy. Over the last couple of months we have explored how testamentary trusts and superannuation proceeds trusts integrate with your estate plan.

It’s Always Been a Matter of Superannuation Proceeds

Let's talk about Super Proceeds Trusts (SPTs) a simply a trust established by will or by deed solely to receive superannuation proceeds on the death of a fund member.

It’s Always Been a Matter of (Super Proceeds) Trust

Let's talk about Super Proceeds Trusts (SPTs) a simply a trust established by will or by deed solely to receive superannuation proceeds on the death of a fund member.

New Financial Year Checklist

A New Year is invariably synonymous with making a list of (often overly ambitious) lifestyle resolutions around eating healthier, exercising more, cutting down on vices and finding a better work-life balance.

It's always been a matter of Testamentary Trust

If I had a dollar for every time a client comes in to discuss their estate plan and says “I was at a barbeque on the weekend and a mate said I should have something called a testamentary trust …”, I could probably pay for my 4th child’s private school fee

'Til Death Us Do Part

“I don’t need a will because everything will go to my partner anyway.” Sound familiar? True, if an asset is owned as ‘joint tenants’ it is as if each owner actually owns 100% of the asset.

Superannuation taxation integrity measures

Several superannuation taxation integrity measures are due to come into effect on 1 July. Two of these measures concern SMSFs with limited recourse borrowing arrangements (“LRBA”).

Federal Budget 2018

The Federal Budget 2018-19 was recently announced by treasurer Scott Morrison. With the major shake-up to superannuation and retirement policies occurring in last year’s budget and effective from 1 July 2017.

Advance Care Directives

What if you found yourself in a situation where you needed medical attention but couldn’t tell the doctor what you wanted, or more importantly, didn’t want to happen?

Monthly Investment Update | April 2018

Jonathon Bayes, Chief Investment Officer - Partners Wealth Group, and Kerry Craig, Global Market Strategist - J.P Morgan, share their views on the local and global economic outlook.

Driverless vehicles are here | December 2017

Autonomous driving promises more fluid and safe travel and could lower travelling costs. Such a saving would trigger a major shift in consumer-spending patterns, while upending industries.

Hugh Hefner lifestyle considered by new intestacy laws

Many people know that when you die without a Will, your estate is distributed according to a formula contained in legislation, but did you know that the legislation in Victoria changed on 1 November 2017?

Hugh Hefner lifestyle considered by new intestacy laws 2

Many people know that when you die without a Will, your estate is distributed according to a formula contained in legislation, but did you know that the legislation in Victoria changed on 1 November 2017?

Sleeper requirements of BDBNs – signing is no longer enough | October 2017

Sleeper requirements of BDBNs | signing is no longer enough | October 2017

SMSF residency issues – September 2017

We have recently received questions around SMSF residency rules and what funds need to do, in order to remain compliant.

Estate planning concerns with super reforms

The super reforms have seriously disrupted our ability to ‘set and forget’ estate planning strategies where SMSFs are involved.

A Game of Thrones guide to succession planning

Events outside of our own control occur all the time. Although we place plenty of emphasis on our entry into a business, very often this emphasis peters out when we begin to consider an exit strategy.

LRBA update | July 2017

It is important to review any superannuation funds that have limited recourse borrowing arrangements financed using related party loans operating within the ATO’s safe harbour terms.

Happy New (Financial) Year! | July 2017

At Partners Wealth Group we use this time to ask the question – how can we continue to improve our services to you to ultimately deliver a superior client experience?

Accountant or Advisor?

Clients are now demanding more value-creating services from a one-stop shop. Financial advice is a naturally complementary service that can meet your clients’ demands, yet many accounting practices continue to ignore this opportunity.

SMSF Valuation Guidelines | under the Super Reforms |July 2017

On the back of the CGT relief options, we have also received many enquiries about the valuation of assets.

State budget property proposals are no longer just proposals

As of today, 27 June 2017, the following changes affecting property transactions have been legislated

What does the 2017 budget mean for property transactions? June 2017

The 2017 budget announcement has raised many questions around property transactions for foreign and Australian resident.

Do you understand the latest changes to home care services? June 2017

Earlier this year the Federal Government introduced changes to the allocation of government funded home care packages.

EOFY Superannuation Checklist | June 2017

As the end of the financial year rapidly approaches, these are the key superannuation considerations you need to make prior to 30 June.

EOFY Superannuation Checklist | June 2017 2

As the end of financial year rapidly approaches, these are the key superannuation considerations your clients need to make prior to 30 June 2017

Don’t let your clients’ SMSF Estate Planning strategy suffer after 30 June 2017

he 30 June 2017 SMSF changes impact on your clients’ Estate Planning strategies. Clients falling into any of the following categories require their Estate Planning strategy to be reviewed.

Is superannuation still a magic pudding? May 2017

In the good old days, superannuation was like the Magic Pudding, a much-loved classic written and illustrated by one of Australia’s greatest artists, Norman Lindsay.

Draft LRBA legislation update – May 2017

The government has released new draft legislation addressing concerns over the potential for SMSF members to use Limited Recourse Borrowing Arrangements (LRBAs) to circumvent their contribution caps.

$1.6M Transfer Balance Cap – Commutation request must be submitted before 1 July 2017

The ATO has released Practical Compliance Guidelines PCG 2017/5 to provide much needed clarity about the process that SMSF members and trustees need to follow to comply with the $1.6M transfer balance cap.

Federal Budget 2017 – Key superannuation changes | May 2017

While there were only two significant changes announced in last weeks’ Federal Budget, there is still time to take advantage of changes delivered last year.

Federal Budget 2017 | Super changes | May 2017

The minimal changes to superannuation was expected, due to many people still grappling with the super reforms coming into effect from 1 July 2017, because of last year’s budget.

Super reforms | don’t miss out on providing advice to your clients prior to 30 June 2017| April 2017

It is imperative that your clients review their current position to ensure they can make the most of the current superannuation system prior to 30 June 2017.

Superannuation reforms |your last chance to act before new changes come into effect | April 2017

it is imperative that you and your advisor review your current position to ensure you make the most of the current superannuation system prior to 30 June 2017.

Surcharges for absentee owners and foreign purchasers of land – how does it impact on discretionary trusts? | April 2017

All property in Victoria is subject to land tax, unless an exemption applies or the property is below the threshold (which is currently $250,000)

Super Day 2017

Surcharges for absentee owners and foreign purchasers of land – how does it impact on discretionary trusts?

There has been a lot of discussion lately regarding the changes to the absentee owner surcharge under the Land Tax Act 2005 (Vic) and the stamp duty surcharge for foreign purchasers under the Duties Act 2000 (Vic).

Big changes to government handouts for property

The Victorian Government recently announced its intentions to make significant changes to the First Home Owner Grant (FHOG) and stamp duty for first home buyers, taking effect from 1 July 2017

Life after death: digital assets and estate planning

Have your clients considered what happens to their digital assets when they pass away? Do they know the value of their digital estate? Partners Legal outline some important considerations for estate planning.

Are your clients aware of the upcoming changes to contributions?

One of the major superannuation changes coming into effect from 1 July 2017, is the lowering of both the concessional (pre-tax) and non-concessional (after-tax) contribution limits.

Major insolvency reforms – what does this mean for your clients?

The Federal Government will introduce significant reforms to Australia’s corporate and personal insolvency laws this year following the commencement of the Insolvency Law Reform Act 2016 (Cth).

Looking to go into business with someone this year?

Going into business with someone means that you have to balance the pros and cons of working with them. How can you protect yourself if things go badly?