Changing A SMSF Trustee to a Corporate Trustee
Benefits of a Corporate Trustee 1. Changing Members If an SMSF is set up with a corporate trustee structure you can add a member (e.g. a spouse or child) or remove a member (e.g. if a member dies or can no longer act as trustee) with much less hassle than an individual trustee structure. If there is a ch...
Our Legal Fees & Services
At GMH Legal we believe that client relationships matter more than time sheets which is why we offer a range of alternative fee arrangements to best suit your needs. Our focus is on client service and establishing mutually rewarding relationships with our clients. We think that billing by the hour does not ...
Homebuyer’s Guide to Conveyancing
Buying your first home can be a confusing process, particularly when it comes to conveyancing. Taking your first step on to the property ladder can be an exciting time. But for those who have never been involved in a property purchase, the conveyancing process can often seem hard to understand. What i...
ATO has SMSF property investors in its sights
The Australain Taxation Office (ATO) has warned trustees of SMSFs to be cautious when investing in property. Acting commissioner Bruce Quigley says he is concerned people are using their SMSF to invest in property without fully understanding their obligations under the law – or that some are seeking to take adva...
The “standard” trust deed
We’ve heard this so many times. You ask the question to a trustee or even an accountant or adviser - “what trust deed are you using?” And the answer is “oh, you know, just a standard SMSF trust deed”. Standard…… is there any such thing ? What’s the big deal? The big deal is that your trust d...
Increase in SMSF levy
The Government have announced an increase in the SMSF levy from $191 to $259 per annum from 2013-14 onwards. They say that this due to the fact that the current levy is not fully covering the costs of regulating the sector. While they were at it, they also announced that the collection of the SMSF levy will ...
A Superannuation fund is best viewed as a long-term savings plan for retirement. Since 1992, every employer of an Australian worker between the ages of 18 and 70 has been required to pay contributions of 9% of an employee’s salary into an approved Superannuation Fund.
However, the Superannuation laws are highly complicated, difficult to navigate, constantly evolving, and intertwined with taxation law, trust law, equitable principles, and accounting principles. Keeping up to date with the relevant legislation and regulations is a constant challenge for organisations of all sizes and varieties, in both the public and private sectors.
At GMH Legal, our specialist Superannuation lawyers are amongst the most experienced in Australia. Our lawyers have the technically skill and commercial astuteness required to give you the highest quality legal advice available, in a form and manner that is efficient, pragmatic and cost-effective.
We take a holistic and collaborative approach to all our Superannuation clients. We will strive to help you achieve your interests by continually keeping you informed of developments in the law and their possible application to your unique individual circumstances.
Our team of consultants and legal advisors will guide you through the myriad of laws and regulations and explain their applicability and relevance to your circumstances in plain English. Our expert lawyers provide legal advice and representation to fund trustees, employers (private and public), employees, and other Superannuation Industry stakeholders regarding;
- Compliance and regulatory issues, including SIS prudential supervision and financial services regulation
- Trust deed interpretation, reviews and amendments
- Trustee duties and obligations
- Fund establishments, restructures, mergers, rationalisations and closures
- Self Managed Superannuation Funds establishment and regulatory compliance
- Payment of superannuation benefits and termination payments
- Superannuation issues in acquisitions and disposals
- Family Law issues, including the treatment of Superannuation funds after marriage breakdowns
- Taxation of Superannuation Funds, including qualification for tax concessions
- Consolidation of Superannuation funds (roll-overs)
- All relevant laws and regulations relating to the Superannuation Guarantees Scheme
- Superannuation Investment, including investment management agreements, custody arrangements, direct investments, derivatives trading agreements, risk management statements and member investment choice
- Superannuation Claims and disputes, including death benefit allocations, total and permanent disability benefit claims, Superannuation Complaints Tribunal complaints, Superannuation litigation, as well as liaising and negotiating with regulators and the ATO regarding audits, investigations and compliance issues
We have outlined the scope of out services in relation to some of the more major issues related to Superannuation law below;
COMPLIANCE AND REGULATORY ISSUES
TRUST DEED INTERPRETATION, REVIEWS AND AMENDMENTS
TRUSTEE DUTIES AND OBLIGATIONS
- The clauses set out in the super fund Trust deed;
- The provisions of the Superannuation Industry (Supervision) Act 1993;
- Rules imposed by tax legislation and trust law.
Our team at GMH legal is committed to providing you with professional advice to ensure that your super fund is properly managed and maintained.
FUND ESTABLISHMENTS, RESTRUCTURES, MERGERS, RATIONALISATIONS AND CLOSURE
At GMH Legal, we understand the intricacies of Super funds and have the experience to help:
- Create your Super fund;
- Restructure your existing Super fund;
- Deal with any mergers, rationalisations and closures relating to your fund.
SUPERANNUATION ISSUES IN ACQUISITIONS AND DISPOSALS
Given that Superannuation laws are continually evolving, new rules and regulations have been put in place governing Superannuation. As part of the Stronger Super reforms for instance, acquisitions and disposals between Super Funds and related parties must be conducted through the market, where one exists. If no market exists, the transaction must be supported by a valuation from an independent valuer.
Here at GMH Legal, our expertise in the superannuation sector allows us to ensure that you are getting the best possible advice personalised for your financial and personal circumstances.
Call the experienced team at GMH Legal to assist you in your matter.
A free consultation with GMH Legal is an opportunity to gain deep insights into your legal situation and all of your options.
Why Choose GMH Legal?
- Over 60 years of combined legal experience
- Outstanding track record with a winning approach
- First appointment is always free
- Meet our team now.