New ASIC fees effective 1 July 2021

We are happy to say that our fees will not be changing in the new financial year, however, ASIC's fees increase from 1 July.

In line with ASIC's fee increase, {{contact_name}}'s company products will be priced as follows from 1st July 2021.

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Update on Electronic Signing

In the face of the pandemic the states, territories and Commonwealth enacted different measures throughout 2020 in relation to the electronic execution of documents. With most of these temporary measures having already ended or nearing expiry, it may be best to get back to pen on paper signatures, where possible.

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Add YOUR logo to deeds and constitutions

Free Document Branding

We can add your company logo, in colour, to your deeds and constitutions.

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Covid-19 early release of superannuation extended to 31 December 2020

Pursuant to recent legislative amendments, individuals now have until 31 December 2020 (extended from 24 September) to access up to $10,000 of their superannuation under the compassionate ground of release that was introduced in response to the Coronavirus in April this year.

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Changes to Electronic Execution

Whether or not legal documents can be executed electronically is complicated and the effectiveness and legality of electronic execution differs around the country, both from state to state and between the states (and territories) and the Commonwealth. In particular, documents that need to be witnessed personally (such as deeds) almost certainly cannot be witnessed electronically without extraordinary legislative intervention.

However, in response to the coronavirus pandemic, various states have recently enacted legislative measures in relation to the electronic execution of documents.

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Deadline has been extended for excluding foreign beneficiaries for NSW trusts

NSW legislation was recently passed, which extends the deadline for NSW trusts to be amended to exclude foreign beneficiaries for 12 months, that is, until 31 December 2020.

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Victorian SRO about to take a more strict approach regarding “foreign” trusts

Since 1 July 2015, specific laws in Victoria imposed a stamp duty surcharge, and, in some cases, a land tax surcharge on certain foreign purchasers of residential land in Victoria. These laws may extend to discretionary trusts. Specifically, if any of the beneficiaries under the trust are “foreign” (as defined by the relevant Act), the trust could be deemed to be a “foreign trust” (and, therefore, possibly subject to stamp duty and/or land tax surcharges).

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Why do you review structures before creating documents?

Sometimes, we’re asked why our documents aren’t generated automatically, when there are a lot of online providers who offer an immediate document service. The reason is that once you have submitted an order to us, we will review your order to ensure the structure is legally sound, before creating the documents. Our members are appreciative that we take the time to review and check any issues with them, saving a potentially awkward situation with their clients.

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BDBNs and reversionary beneficiary nominations - which take precedence?

Succession planning is obviously a very important element of being a member of a superannuation fund, as the benefits are basically expected to be paid to the member when they retire, or to their dependants should they pass away.

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Stamp duty and land tax surcharges Update

Many members would be aware of various States introducing stamp duty (and land tax) surcharges for foreigners acquiring land, including for some discretionary trusts where they have even one foreign (potential) beneficiary! NTAA Corporate has progressively introduced new discretionary trust deeds to exclude affected foreigners from being beneficiaries of those trusts, to ensure as far as possible that the surcharges will not inadvertently apply to the acquisition or holding of land by trusts in those affected States.

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Why it is Best to Change Trustees by Executing a Deed

A recent court case has put the manner of changing trustees in an SMSF in the spotlight and the following article outlines the views of our in-house legal team on the matter. We explore why it's best to change trustees via executing a deed and further, why it's important the deed be prepared by a qualified legal practitioner, as happens when you order an SMSF change of trustee online with us.

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A Partnership of Trusts or a Hybrid Trust

A Partnership of Trusts or a Hybrid Trust - which would be right for you?

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