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News

The retrospective effect of The State Revenue Legislation Further Amendment Act 2020 (NSW) on discretionary trusts

09/12/2020

An important reminder that discretionary trusts that have already sold all residential properties before the deadline of 31 December 2020 could still be assessed for foreign surcharge purposes under the new NSW laws even if the trusts have already been wound up.

SMSF valuation requirements (for trustees)

26/11/2020

The ATO has recently published "Evidence to support real property valuations" which outlines the ATO's evidence approach and requirements for real property valuations. The approach elaborates but generally accords with the ATO's previously published valuation principles. This article explains the ATO valuation requirements for real property and other asset classes and situations.

Reversionary pensions that don't revert

26/11/2020

What happens where, at the time of death of the pensioner, a reversionary pension fails to revert because the nominated reversionary pensioner (a SIS Act dependant) is not eligible to receive income stream death benefits, for example where the nominated reversionary pensioner is an adult child of the deceased member.

EPAdvantage estate planning training program - 2021 course calendar

26/11/2020

The course is a 10-week online program, just 2 hrs per week, focused on delivering practical scenario based training on estate planning. Online modules are presented by Townsends Lawyers estate planning specialists Brian Hor and Peter Townsend.

Getting your estate documents together

26/11/2020

Jonathan See of Townsends Business & Corporate Lawyers recently published an article on 'Preparing for the Inevitable: Getting your estate documents together'. Below is an excerpt, the suggested list of documents clients can provide to Executor/s as part of their estate planning activities.