Questions and Answers

As a service to LRC® members, we answer many client related questions.  To ensure all members can benefit from and have access to this resource, we have compiled a list of the most commonly asked questions.  This question and answer record is reviewed and updated on regular basis to make sure it is relevant and monitored for changes to legislation.

For ease of use we have categorised the questions into topic groups.

SMSF

  1. 60+ and satisfying the retirement conditions for superannuation benefits
  2. The limit for the Retirement Exemption under the Simplified Superannuation Regime
  3. Stamp Duty issues when moving assets from a Discretionary Trust to a SMSF
  4. Issues with allocating SMSF Reserves
  5. 60+ Are all superannuation benefits withdrawn tax free?
  6. SMSF - Gearing property purchases
  7. Binding death benefit nominations and SMSF's

CGT

  1. Small Business CGT Concessions and the sale of units in a Unit Trust
  2. Sell the business or the shares? Application of the Small Business CGT Concessions

Estate Planning

  1. Effectively using Testamentary Trusts

Asset Protection

  1. Asset protection for assets owned in your own name
  2. Protecting the family home

Taxation

  1. Division 7A and the treatment of loans from companies for income producing purposes
  2. Distributing fully franked dividends to a trust with net losses
  3. Division 7A and loans to trustee companies\
  4. Personal Services Income and Income Splitting

NOTE - This material has been prepared for demonstration purposes only and is a sample/summary only. It does not represent legal advice upon which any person may act.  Implementation and suitability requires a detailed analysis of your/a client's specific circumstances.  If anyone seeks advice in relation to the circumstances similar to those demonstrated, that advice should be sought on the specific fact then applying.