The Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 has now received assent and become Act No 47 of 2021. From 1 July this year Self Managed Superannuation Funds (‘SMSF’) will be allowed to have up to six members and trustees rather than the current maximum of four. Despite this the[…]
What gets written in a trust deed is not always what the settlor and the trustee meant to say or what they asked to have drafted. This sort of mistake in a legal document, any type of deed or contract, can be fixed by a process called rectification. Rectification is[…]
This case considers facts so reminiscent of the much discussed Katz v Grossman [2005] NSWSC 934 that comparison must come to mind. The main fact variation being that in this case the contest was between a long standing spouse and a child of the first marriage rather than between siblings.[…]
Budget announcements on 3 May this year presaged a plethora of changes to the Australian superannuation system more significant than any since May 2006. Five months later we have an Exposure Draft of the proposed legislation. These changes are some of the most complex yet. They introduce a whole range[…]