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  • Trust

    Trust

    • Acknowledgement of Trust (already own asset) - $165
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Trustee of Family Trust - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Div 7A Loan Agreement - $55
    • Div 7A Loan Agreement for UPE - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Vesting - $249
    • Forgiveness of Debt - $121
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Release of Unpaid Trust Entitlement - $121
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
    • Webinar Recording - All About Family Trusts - $66
    • Webinar Recording - Are Family Trusts “Done” as an Asset Protection Tool? - $77
    • Webinar Recording - Asset Protection - Dealing with Risk in Hard Times - $77
    • Webinar Recording - Beneficiary Entitlements in Trusts - $77
    • Webinar Recording - Family Trust v Family Court - Not a marriage made in Heaven - $77
    • Webinar Recording - Fixing Family Trust Deeds - $77
    • Webinar Recording - Know Thy Business Structure - $77
    • Webinar Recording - Managing Trust UPEs - How to do it and potential tax exposures - $77
    • Webinar Recording - The Powers and Problems of Trustees - $77
    • Webinar Recording - The Pros and Cons of Unit Trusts - $77
    • Webinar Recording - The who, what, when & how of Family Trust Elections - $77
    • Webinar Recording - Trust Tax Issues and CGT Small Business Concessions - $77
    • Webinar Recording - Trusts - Asset Protection on Peptides - $77
    • Webinar Recording - Trusts Revisited - $77
    • Webinar Recording - Unit Trust v Family Trust - Which is Better for Investing? - $77
    • Webinar Recording - Untangling Discretionary Trusts – A Family Lawyer’s Perspective - $77
    • Webinar Recording - Winding Up Trusts and Tax Consequences - $77
  • Superannuation

    Superannuation

    • Acknowledgement of Trust (already own asset) - $165
    • Commercial Lease - $220
    • Declaration of Trust (before you buy) - $99
    • Derivative Risk Statement for SMSF - $65
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Pension Pack for Self Managed Super - $299
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Commercial Property Assessment - $415
    • SMSF Full Valuation - $585
    • SMSF Kerbside Assessment - $415
    • SMSF Limited Recourse Borrowing Arrangement - $220
    • Statutory Declaration - $0
    • Webinar Recording - Accountant Road Rules for Super - $77
    • Webinar Recording - How does the 2016 Budget affect SMSF Trustees? - $77
    • Webinar Recording - Investment Restrictions for Self Managed Superannuation Funds - $75
    • Webinar Recording - Pitfalls that SMSF Trustees should avoid - $77
    • Webinar Recording - SMSF End of Year Essentials - $77
    • Webinar Recording - SMSFs and Related Party Loans - $77
    • Webinar Recording - Superannuation: Current status of the proposed changes - $77
    • Webinar Recording - The Protected Super Myth’Conception - $77
    • Webinar Recording - Time to Address the SMSF Sleeper - Estate Planning within the fund - $77
    • Webinar Recording - Tips and Traps for Property Investment in your SMSF - $77
    • Webinar Recording - Understanding the 2017 Superannuation Changes - $77
  • Estate Planning

    Estate Planning

    • Buy Sell Agreement Company - $197
    • Capital Gains Tax Asset Register kit - $33
    • Codicil to change the Executor - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Power Of Attorney By Company - $99
    • Webinar Recording - Estate Planning Basics for Professional Advisers - $77
    • Webinar Recording - Time to Address the SMSF Sleeper - Estate Planning within the fund - $77
    • Webinar Recording - When a Will is not Simple - $77
    • Will - Married or Defacto No Children - $77
    • Will - Married or Defacto with Children - $77
    • Will - Single No Children - $99
    • Will - Single With Children - $99
  • Commercial

    Commercial

    • Advanced Legal Health Check for Businesses - $18
    • Buy a House with Friends Agreement - $110
    • Commercial Lease - $220
    • Commercial Property Valuation Request - $0
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Div 7A Loan Agreement - $55
    • Div 7A Loan Agreement for UPE - $55
    • Forgiveness of Debt - $121
    • Loan Agreement (No Security) - $99
    • Release of Unpaid Trust Entitlement - $121
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Webinar Recording - Avoiding Business Disputes - $77
    • Webinar Recording - Maximising your Business Value - $77
    • Webinar Recording - Navigating Small Business Restructure Roll-overs - $77
    • Webinar Recording - Small Business Tax and Financial Risks - $77
  • Employment

    Employment

    • Confidentiality Agreement (Non Disclosure) - $99
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Independent Contractors Agreement - $99
    • Partnership Deed - $220
    • Statutory Declaration - $0
    • Webinar Recording - Are you Ready for Bullying in the Workplace? - $66
    • Webinar Recording - Employee Engagement and Share Plans - $77
    • Webinar Recording - Employee v Contractor - $77
    • Webinar Recording - Social Media in the Workplace - $77
  • Company

    Company

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Build a Company - $99
    • Build a Company (ELodgement) - $625
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Capital Gains Tax Asset Register kit - $33
    • Change Registered Office kit - $33
    • Commercial Lease - $220
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Div 7A Loan Agreement - $55
    • Div 7A Loan Agreement for UPE - $55
    • Employment Contract - $99
    • Family Trust - Vesting - $249
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Loan Agreement (No Security) - $99
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Power Of Attorney By Company - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • Transfer of Shares Kit - $0
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
    • Webinar Recording - Companies - Things you should know, but probably don’t! - $77
    • Webinar Recording - Know Thy Business Structure - $77
    • Webinar Recording - Private Company Cash - Division 7A Complications for Professional Advisors - $77
    • Webinar Recording - Year End Tax Planning - $77
  • Webinars

    Webinars

    • Webinar Recording - Accessing Company & Trust Documents in Family Law - $77
    • Webinar Recording - Accountant Road Rules for Super - $77
    • Webinar Recording - All About Family Trusts - $66
    • Webinar Recording - Are Family Trusts “Done” as an Asset Protection Tool? - $77
    • Webinar Recording - Are you Ready for Bullying in the Workplace? - $66
    • Webinar Recording - Asset Protection - Dealing with Risk in Hard Times - $77
    • Webinar Recording - Avoiding Business Disputes - $77
    • Webinar Recording - Beneficiary Entitlements in Trusts - $77
    • Webinar Recording - Companies - Things you should know, but probably don’t! - $77
    • Webinar Recording - Dealing with Divorce - An Accountant’s Perspective - $77
    • Webinar Recording - Dealing with Mistakes and Variations in Family Trust Deeds - $77
    • Webinar Recording - Demise of the Accountants’ Exemption - Walking the line, post 1 July 2016 - $77
    • Webinar Recording - Distributing Capital from Family Trusts - $77
    • Webinar Recording - Do Pre-Nups Work Anymore? - $77
    • Webinar Recording - Employee Engagement and Share Plans - $77
    • Webinar Recording - Employee v Contractor - $77
    • Webinar Recording - Estate Planning Basics for Professional Advisers - $77
    • Webinar Recording - Family Trust v Family Court - Not a marriage made in Heaven - $77
    • Webinar Recording - Fixing Family Trust Deeds - $77
    • Webinar Recording - How does the 2016 Budget affect SMSF Trustees? - $77
    • Webinar Recording - Investment Restrictions for Self Managed Superannuation Funds - $75
    • Webinar Recording - Know Thy Business Structure - $77
    • Webinar Recording - Managing Trust UPEs - How to do it and potential tax exposures - $77
    • Webinar Recording - Maximising your Business Value - $77
    • Webinar Recording - Navigating Small Business Restructure Roll-overs - $77
    • Webinar Recording - Pitfalls that SMSF Trustees should avoid - $77
    • Webinar Recording - Private Company Cash - Division 7A Complications for Professional Advisors - $77
    • Webinar Recording - Project Do It - ATO Amnesty Information Session - $0
    • Webinar Recording - Small Business Tax and Financial Risks - $77
    • Webinar Recording - SMSF End of Year Essentials - $77
    • Webinar Recording - SMSFs and Related Party Loans - $77
    • Webinar Recording - Social Media in the Workplace - $77
    • Webinar Recording - Stimulus measures and year-end tax planning for companies and trusts - $77
    • Webinar Recording - Superannuation: Current status of the proposed changes - $77
    • Webinar Recording - The Powers and Problems of Trustees - $77
    • Webinar Recording - The Pros and Cons of Unit Trusts - $77
    • Webinar Recording - The Protected Super Myth’Conception - $77
    • Webinar Recording - The who, what, when & how of Family Trust Elections - $77
    • Webinar Recording - Time to Address the SMSF Sleeper - Estate Planning within the fund - $77
    • Webinar Recording - Tips and Traps for Property Investment in your SMSF - $77
    • Webinar Recording - Trust Tax Issues and CGT Small Business Concessions - $77
    • Webinar Recording - Trusts - Asset Protection on Peptides - $77
    • Webinar Recording - Trusts Revisited - $77
    • Webinar Recording - Understanding the 2017 Superannuation Changes - $77
    • Webinar Recording - Unit Trust v Family Trust - Which is Better for Investing? - $77
    • Webinar Recording - Untangling Discretionary Trusts – A Family Lawyer’s Perspective - $77
    • Webinar Recording - When a Will is not Simple - $77
    • Webinar Recording - Winding Up Trusts and Tax Consequences - $77
    • Webinar Recording - Year End Tax Planning - $77
    • Webinar Recording - You’ve Been Served! - How to deal with a family law subpoena - $77
    • webinar20201125 - Webinar Test 2 - $88
  • All documents

    All documents

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Advanced Legal Health Check for Businesses - $18
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Build a Company - $99
    • Build a Company (ELodgement) - $625
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Capital Gains Tax Asset Register kit - $33
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Registered Office kit - $33
    • Change Trustee of Family Trust - $110
    • Codicil to change the Executor - $99
    • Commercial Lease - $220
    • Commercial Property Valuation Request - $0
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Derivative Risk Statement for SMSF - $65
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Disclaimer - Email - $55
    • Div 7A Loan Agreement - $55
    • Div 7A Loan Agreement for UPE - $55
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Vesting - $249
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Loan Agreement (No Security) - $99
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Pension Pack for Self Managed Super - $299
    • Power Of Attorney By Company - $99
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Commercial Property Assessment - $415
    • SMSF Full Valuation - $585
    • SMSF Kerbside Assessment - $415
    • SMSF Limited Recourse Borrowing Arrangement - $220
    • SMSF Subscription - $99
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Transfer of Shares Kit - $0
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
    • Webinar Recording - Accessing Company & Trust Documents in Family Law - $77
    • Webinar Recording - Accountant Road Rules for Super - $77
    • Webinar Recording - All About Family Trusts - $66
    • Webinar Recording - Are Family Trusts “Done” as an Asset Protection Tool? - $77
    • Webinar Recording - Are you Ready for Bullying in the Workplace? - $66
    • Webinar Recording - Asset Protection - Dealing with Risk in Hard Times - $77
    • Webinar Recording - Avoiding Business Disputes - $77
    • Webinar Recording - Beneficiary Entitlements in Trusts - $77
    • Webinar Recording - Companies - Things you should know, but probably don’t! - $77
    • Webinar Recording - Dealing with Divorce - An Accountant’s Perspective - $77
    • Webinar Recording - Dealing with Mistakes and Variations in Family Trust Deeds - $77
    • Webinar Recording - Demise of the Accountants’ Exemption - Walking the line, post 1 July 2016 - $77
    • Webinar Recording - Distributing Capital from Family Trusts - $77
    • Webinar Recording - Do Pre-Nups Work Anymore? - $77
    • Webinar Recording - Employee Engagement and Share Plans - $77
    • Webinar Recording - Employee v Contractor - $77
    • Webinar Recording - Estate Planning Basics for Professional Advisers - $77
    • Webinar Recording - Family Trust v Family Court - Not a marriage made in Heaven - $77
    • Webinar Recording - Fixing Family Trust Deeds - $77
    • Webinar Recording - How does the 2016 Budget affect SMSF Trustees? - $77
    • Webinar Recording - Investment Restrictions for Self Managed Superannuation Funds - $75
    • Webinar Recording - Know Thy Business Structure - $77
    • Webinar Recording - Managing Trust UPEs - How to do it and potential tax exposures - $77
    • Webinar Recording - Maximising your Business Value - $77
    • Webinar Recording - Navigating Small Business Restructure Roll-overs - $77
    • Webinar Recording - Pitfalls that SMSF Trustees should avoid - $77
    • Webinar Recording - Private Company Cash - Division 7A Complications for Professional Advisors - $77
    • Webinar Recording - Project Do It - ATO Amnesty Information Session - $0
    • Webinar Recording - Small Business Tax and Financial Risks - $77
    • Webinar Recording - SMSF End of Year Essentials - $77
    • Webinar Recording - SMSFs and Related Party Loans - $77
    • Webinar Recording - Social Media in the Workplace - $77
    • Webinar Recording - Stimulus measures and year-end tax planning for companies and trusts - $77
    • Webinar Recording - Superannuation: Current status of the proposed changes - $77
    • Webinar Recording - The Powers and Problems of Trustees - $77
    • Webinar Recording - The Pros and Cons of Unit Trusts - $77
    • Webinar Recording - The Protected Super Myth’Conception - $77
    • Webinar Recording - The who, what, when & how of Family Trust Elections - $77
    • Webinar Recording - Time to Address the SMSF Sleeper - Estate Planning within the fund - $77
    • Webinar Recording - Tips and Traps for Property Investment in your SMSF - $77
    • Webinar Recording - Trust Tax Issues and CGT Small Business Concessions - $77
    • Webinar Recording - Trusts - Asset Protection on Peptides - $77
    • Webinar Recording - Trusts Revisited - $77
    • Webinar Recording - Understanding the 2017 Superannuation Changes - $77
    • Webinar Recording - Unit Trust v Family Trust - Which is Better for Investing? - $77
    • Webinar Recording - Untangling Discretionary Trusts – A Family Lawyer’s Perspective - $77
    • Webinar Recording - When a Will is not Simple - $77
    • Webinar Recording - Winding Up Trusts and Tax Consequences - $77
    • Webinar Recording - Year End Tax Planning - $77
    • Webinar Recording - You’ve Been Served! - How to deal with a family law subpoena - $77
    • webinar20201125 - Webinar Test 2 - $88
    • Website Terms And Conditions - $99
    • Will - Married or Defacto No Children - $77
    • Will - Married or Defacto with Children - $77
    • Will - Single No Children - $99
    • Will - Single With Children - $99
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Print Version Back

Vengeful Spouse Strips Cash from SMSF - Now what?

Issue: 406 - Tuesday, 27 March 2012

In this Issue

  1. Vengeful Spouse Strips Cash from SMSF - Now what?

1. Vengeful Spouse Strips Cash from SMSF - Now what?

QUESTION: I have a client who is currently going through a divorce. She’s from old family money and married (I think) unwisely. Her soon-to-be (cheating, 35 year old) ex-husband  decided it would be a good idea to withdraw $150,000 from their SMSF’s bank account. Both my client and her ex-husband are trustees of the SMSF. My client confronted her ex-husband and he told her “Well, you’ll have to repay the money because I’ve already spent it.” My client has the capacity to inject the funds, but she doesn’t see why she should have to do so.

Is this a breach of the early release rules by my client who did nothing wrong? How does it affect the SMSF?

Accountant, Cottesloe WA.

ANSWER: Unfortunately it is not all that unusual for people going through a divorce to empty joint bank accounts – just to spite the other person ( and to fund post-marital extravagances Ed.). Usually when that happens, the innocent party receives some sort of adjustment in their favour – when dividing up the marital assets. Needless to say, anyone emptying bank accounts and blowing the money is not looked upon favourably by the Family Court when making financial orders.

But, what we have here is a different kettle of fish. Not only has one spouse raided a joint bank account (so to speak), they have actually stolen money from a superannuation fund. The money is not their money. Even though you may be one of the trustees and members of the fund – the money is not yours until you meet certain pre-conditions. The Superannuation (Industry Supervision) Regulations 1994 (SIS Regs) provide the rules that must be followed to access the funds in your SMSF. These are set out in column 2 of Schedule 1 SIS Regs (Schedule 1).

The most common consideration is the member’s preservation age. Generally, if you have not reached your preservation age, you cannot access any of the money in your SMSF. There are exceptions to that rule, however, for the present case we’ll take it as a threshold test to be met.

What are the early release rules?

The term ‘early release rules’ gets bandied about these days. However, the term does not appear in any of the legislation. So where do you find out what the rules are?

The first place to look is in Schedule 1. Schedule 1 is read with the sole purpose test under s 62(1) SIS Act. As a trustee of a SMSF, you have a duty to ensure the SMSF satisfies the sole purpose test at all times. Therefore, looking for ways to access funds from your SMSF before retirement or attaining your preservation age is likely to cause you to breach the sole purpose test – which is, in its basic form, to provide for the retirement income of the SMSF’s members.

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If a trustee of a SMSF authorises the release of superannuation benefits to a member before the pre-conditions in Schedule 1 are met – that trustee has breached s 62(1) SIS Act.

What’s the big deal? It’s going to be your money anyway, right?

It is easy to understand why some SMSF trustees think that way. However, as a trustee of a SMSF, you have just as much right to use the SMSF’s funds for your own benefit as the fund managers of the large retail superannuation funds. There is a clear distinction between the roles of SMSF trustees and SMSF members. The trustees have a legally enforceable duty imposed on them to apply the SIS Act and tax laws correctly to ensure that the members’ funds are protected and preserved for funding their retirement.

The members of the SMSF really have no role to play in the administration of the fund – in their capacity as a member – they merely are account holders in a retirement investment vehicle. This is much the same as a member of a retail fund.

If a trustee of a SMSF permits an early release of superannuation benefits to a member, they can face some very heavy penaltiesand are at the mercy of the ATO.

Our beloved Platinum Members get the inside scoop on the dangers of breaching SIS Act.

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You can always just pay it back and no one will know, right?

Wrong. The problem with that line of thought is that your SMSF is required to be audited on an annual basis. Therefore, it is inevitable that the auditor will spot a large withdrawal and then a corresponding deposit in the SMSF’s bank account and ask some questions.

The problem is, it’s not just the illegal taking of money that is in issue. A trustee of a SMSF has a positive obligation to report adverse events to the ATO within a reasonable time of becoming aware of the event. Even the ‘innocent’ trustee who didn’t take the money is subject to civil and criminal penalties for failing to notify the ATO of the breach within a reasonable time. Therefore, if the ‘innocent’ trustee just decides to put the money back in the accounts and sweep the whole thing under the rug, they can be just as culpable as the person who drained the bank account in the first place. Further, the ATO is likely to take a dim view of the ‘innocent’ trustee’s actions and could disqualify them from being a SMSF trustee.

What other problems are there for either party?

The party that has illegally accessed their superannuation benefits is required to report the money that they stole from the SMSF in their income tax return for the year that the theft occurred. The money becomes part of their assessable income and is taxed at the taxpayer’s marginal rate of tax plus the Medicare Levy.

Also, if either party is disqualified from being a SMSF trustee by the ATO, it may cause problems for the SMSF where both parties have pooled their resources to buy assets in the fund. To remove the member benefits of the disqualified person from the SMSF, it may be the case that the SMSF needs to liquidate the fund assets. This is so that the member benefits are rolled over into a retail fund. Even worse, if the disqualified trustee remains in the SMSF despite their disqualification, it may cause the whole of the SMSF to be non-complying and therefore lose its concessional tax status.

How do you go about fixing these problems?

Tim Pepper and Tim Poli from Civic Legal specialise in rectifying the mistakes made by inexperienced or naïve SMSF trustees. They have a proven track record of smoothing things over with the ATO and preparing the necessary documents to satisfy the auditors that this type of thing won’t happen again.

The key issue in resolving the problems is to not utilise the ‘Ostrich method’ of problem solving. Putting your head in the sand only causes more problems, especially if one or more of the trustees didn’t do anything wrong in the first place. Remember, even the innocent trustees have a duty to report adverse events to the ATO, regardless of who is at fault.

If the offending SMSF trustee doesn’t have the resources to pay back the money, but the innocent trustee does – it may be worth considering a loan from the innocent trustee to the offending trustee to facilitate repaying the stolen money to the SMSF. In circumstances where there are Family Court proceedings on foot, you should seek legal advice from your family lawyer as to how such arrangements could affect those proceedings. Our Family Law team – headed up by Christina Chang – can work closely with our tax and superannuation team to ensure all your bases are covered.

If you are concerned, or want to know more, seek legal advice early rather than later. The sooner you sort it out, the better things will be in the long run. I am here to help. So contact me, Brett Davies on (08) 9460 5046, or after hours on 0419 980 972. Our specialist SMSF, Tax and Family Law Teams are on permanent standby.

Build these documents now:

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Read these Bulletin Bookshelf articles now:

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