314 | Child Maintenance Trust Questions
In this episode Patrick Huang will go through 10 child maintenance trust questions you sent in.
Posts
311 | Who Gets The Family Home
What happens to your family home when your parents die? Here are Amanda Morton and Paul Goldin with some insights.
310 | Who Gets The Beach House
Who gets the beach house? What are the advantages of moving it to a testamentary trust?
309 | Child Maintenance Trust
A child maintenance trust can save you a lot of tax but it comes at a huge cost as Simon Bacon of Manby & Scott will tell you.
281 | Child Support Payments
Child support payments - what to look out for? Simon Bacon of Manby & Scott is a family law lawyer specialising in child support arrangements, so perfect to ask how child support works.
279 | Losses Need an FTE
Is it always true that losses need an FTE? Let's talk about when an FTE makes sense and when it doesn't.
271 | Company Constitutions
What is the difference between company constitutions and shareholder agreements? Should you just have one or do you need both?
255 | Family Provision Claims
Here is Paul Mackenroth of Cleary Hoare about what happened with the family provision claim in the Marsella case and how to avoid it.
222 | Main Residence Exemption for Foreign Residents
The main residence exemption for foreign residents is changing as Andrew Henshaw of Velocity Legal will tell you in this episode.
221 | Main Residence Exemption Upon Divorce or Death
What happens to the main residence exemption upon divorce or death? Andrew Henshaw of Velocity Legal in Sydney will give you the answer.
211 | Leading Member
Why would you create a leading member? And how? Grant Abbott of Lightyear Docs and I love SMSF has the answer.
210 | Asset Protection
The more assets, the more asset protection you need. Here is Geoff Stein of Brown Wright Stein Lawyers in Sydney with more.
184 | Mental Health
Mental health issues can hit any of us – at any time - when we least expect it. So we should talk about it. Tim Hoopmann is doing just that.
180 | Income Protection and Trauma
Income protection is to replace your income while you can't work. Here is Daniel Mikhail of Growth Wealth Partners with more insights.
178 | Life Insurance
Life insurance looks simple - you are either dead or alive. But there is more to it as Daniel Mikhail of Partners Wealth Group in Sydney will show you.
156 | Trust 101 – Part II
Here is Part II of Paul Goldin's overview of simple mistakes that are easy to avoid but even easier to make - Trust 101 Part II.
155 | Trust 101 – Part I
In this episode Paul Goldin of Vectigal will give you a quick overview of simple mistakes around trusts - easy to make - easy to avoid - Trust 101.
135 | Power of Attorney and Enduring Guardianship
Peter Bobbin of Argyle Lawyers will talk about enduring power of attorney and enduring guardianship. Listen in to know their difference.
134 | Testamentary Trust Basics
In this episode Peter Bobbin of Argyle Lawyers will tell you when a testamentary trust makes sense - and when it doesn't.
133 | ITAA97 NANE
In this episode Peter Bobbin of Argyle Lawyers will tell you more about a new non-arm’s length concept - non-arm’s length expenses - NANE.
132 | ITAA97 NANI
s295-550 ITAA97 doesn't get much limelight but is much more dangerous than s109 of the SIS Act. Here is Peter Bobbin of Argyle Lawyers with more.
131 | SIS Act NANI
Non-arm's length income features in most court cases around the sole purpose test as Peter Bobbin of Argyle Lawyers will explain in this episode.
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". Gordon Mackenzie of UNSW discusses this in more detail.
123 | Death Benefit
A death benefit is any payment your super fund makes after you die. Here is Gordon Mackenzie of UNSW with more.
121 | Age Pension
Qualifying for the age pension is an arduous exercise as you need to pass four hurdles. John Saunders of The Pittwater Partnership will go through these one by one.
116 | Property vs Shares
Property vs shares - how are they taxed differently? Bob Deutsch, Senior Tax Counsel of The Tax Institute, pursues this question.
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.
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.
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.
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.
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.
102 | Aged Living
How do we support aged living in Australia? John Saunders of The Pittwater Partnership will walk you through the options.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
50 | Div 7A Loans
Div 7A loans are tricky but there are ways out. As Peter Adams of Augmentors in Sydney will tell you.
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.
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.
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.
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.
2 | Why Not To Offshore SMSF Work
Do you offshore SMSF work or not? Chloe Ward of Intello will tell you how they turned staying in Australia into an advantage.
Articles
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?
70 | Div 7A UPE
The scenario of a Div 7A UPE can result in a huge tax bill. UPE stands for unpaid present entitlement.
62 | 15-Year Exemption
The small business 15-year exemption is the most generous of the four small business CGT concessions.
55 | Affiliates and Connected Entities
The concept of affiliates and connected entities plays a crucial role around the small business CGT concessions.
53 | 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.
52 | Transferor Trusts
If Australia didn’t have rules around transferor trusts, you could ‘park’ assets and income in overseas trusts.
51 | Trusts as Companies
Corporate unit trusts and public trading trusts are trusts in a legal sense but treated as companies for tax purposes.
50 | 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.
49 | 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?
48 | 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.
47 | Deceased Estates
When you die, everything you own will go into your deceased estate unless specifically excluded. And the devil is in these exclusions.
46 | 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.
45 | 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.
44 | Pattern of Distributions Test
The pattern of distributions test only applies to non-fixed trusts without a family trust election.
43 | 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.
42 | 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?
41 | 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.
40 | Reimbursement Agreement
A reimbursement agreement is an arrangement, where the trustee channels trust distributions via beneficiaries to a third party.
39 | Revocable Trust
A revocable trust is a pretend game. So the Commissioner can put an end to the charade and tax the trustee instead.
38 | 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.
35 | 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.
34 | Streaming Trust Income
Streaming of trust income is a good way to tax-effectively channel income to the right beneficiaries.
33 | Who Pays the Income Tax for a Trust
Beneficiaries and/or trustee pay the income tax for a trust. But who pays how much?
31 | 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.
30 | Division 6 ITAA36
Division 6 ITAA36 is the foundation for the taxation of trusts. Everything else wraps around Division 6.
29 | What is a Trust
There are more than 800,000 trusts in Australia with assets totalling more than $3 trillion. But what is trust?
7 | Minimum Pension Payments
When you start a pension, you need to make minimum pension payments. Otherwise your fund loses its tax exempt status.
Tax Talks
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