Companies, Trusts, Partnerships and Superannuation
DECEMBER
- New Precedent – Hybrid Trust Deed – A hybrid trust is one that combines the efficiency of a fixed trust with the flexibility of a discretionary trust.
NOVEMBER
- New precedent – Discretionary trust deed – No appointor
- Costs Agreements – Reference to interstate costs laws added and updated interest clauses
- ‘Further Information’ options added
- Self Managed Superannuation Funds commentary – Updated information regarding non-lapsing binding nominations and stamp duty
OCTOBER
- Costs Agreements
- WA and SA – added client and firm fields company execution clause trust account details solicitor’s lien.
- WA – added clause on scale fees.
- NSW/VIC – included reference to time limit for bringing costs assessment included total estimate of legal costs section with provision for variables and included authority to receive money into trust.
- Disputes section improved, fields for client and firm details added, trust account details added, solicitor’s lien added, execution clauses for individuals and corporations added and general formatting and grammatical improvements.
- Commentary – Update income tax – corporate beneficiary Div 7A loan
SEPTEMBER
- Amended tax amount where necessary to $175,000
AUGUST
- Costs agreements have been added for Tasmania and Northern Territory.
JULY
- Companies, Trusts, and Partnerships Commentary – The land tax sections of the comparative business structures table have been updated to include the foreign purchaser surcharge in NSW and the increase in absentee owner surcharge in VIC.
- Self Managed Superannuation Funds Commentary – The commentary was amended to expand the definition of a dependent for the purposes of determining superannuation death benefit recipients.
JUNE
- Self Managed Superannuation Funds Commentary – updates regarding amendments to superannuation fund balance caps introduced by the 2016 – 17 Federal Budget and updates for lender requirements in limited recourse borrowing arrangements also applied bringing commentary into alignment with arm’s length principles discussed in ATO practical compliance guideline 2016/5.
MAY
- Commentary added on discussing foreign resident capital gains withholding payments.
APRIL
- File Cover Sheets for all publications have been completely re-formatted for a better look.
MARCH
- Superannuation commentary now discusses replacement assets.
- New precedents added:
- Custodian Deed
- Resolution of the directors – Act as custodian – Bank limited recourse borrowing arrangement
- Resolution of director as trustee – Limited recourse borrowing arrangement
- Resolutions for sole director – Limited recourse borrowing arrangement
- Limited recourse borrowing deed
FEBRUARY
- A general minutes precedent has been added to the companies trusts and partnerships guide.
- Making life a little easier for practitioners – look out for Blank Deed, Agreement and Execution Clauses folder in the matter plan at the end of each Getting the Matter Underway.
JANUARY
- Considered the forthcoming amendments to the Associations Incorporation Act 2009 and the regulations planned for later in this year.
- Added a new Combined Shareholder and Unitholder agreement precedent into Companies, Trusts and Partnerships Guide.