Published on 22 Nov 13
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
SMSFs are regularly party to transactions involving real property and investment vehicles such as unit trusts. The tax advantages of holding assets in the superannuation environment are well-known. However, the stamp duty implications of SMSF transactions are often misunderstood or inadequately dealt with. This presentation explores in some detail the South Australian stamp duty issues arising in a range of reasonably common transactions involving SMSFs, addresses some misconceptions and highlights the importance of careful planning and documentation to achieve appropriate stamp duty outcomes.
This presentation covers:
- stamping SMSF trust deeds, amendments and changes of trustee
- stamp duty implications of transferring assets to SMSFs
- stamp duty on the following types of transactions:
- o in specie benefit payments to members
- o in specie death benefit payments to dependants and legal personal representatives
- o limited recourse borrowing arrangements – setting up the security trust, acquiring the asset and vesting the security trust
- relevant exemptions and concessions in the SMSF context, and how to apply them.
Bernie currently practises as a barrister, whilst primarily undertaking advice work, he does appear in the Supreme Court, Federal Court and tribunals in taxation and valuation matters. In recent years his work has been predominantly taxation, trusts and estates, succession planning, commercial and valuation matters and some major commercial and infrastructure projects. Bernie holds an LLB and Masters degrees in Aquaculture, Information Technology, Taxation and Law from various Australian Universities and a PhD from the University of British Columbia. Bernie regularly gives presentations on taxation, property and trust matters.
- Current at
23 July 2017