Are Undistributed Unit Trust Distributions “Loans”?It is standard practice in many accounting firms to place any undistributed profits from a family or unit trust into a beneficiary loan account, as…
Can A Super Fund Run A Business?For years, the unofficial answer to this question has always been, “No, because it would breach the ‘sole purpose test’, which requires that the…
How Does a Child Under 18 Years of Age Become a SMSF Member, if They Need to be a Trustee?A SMSF may establish a member’s account for a child under…
What Rate of Interest Should a Fund Charge on In-house Asset Loans?There is no established rate of interest chargeable on loans which are in-house assets, however there is a general…
Can a Trust Deed Defeat a Trustee in Bankruptcy? Sometimes, sometimes not. Often it is the legislation itself which either commands recovery or prevents access. This is a complex area, so…
When Does A Superannuation Fund Commence? There are three elements necessary for the conclusion of any express trust in Australia (known colloquially as the “three certainties”): There must be certainty of…