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  1. Terry_w

    SMSF Legal Question

    Here it is Paul http://www.aph.gov.au/binaries/library/pubs/explanmem/docs/1993%20superannuation%20industry%20%28supervision%29%20consequential%20amdts.pdf Also under trust law a person cannot hold property on trust for themselves as there is no separationn of legal and beneficial interests.
  2. Terry_w

    SMSF Legal Question

    Sorry I don't get it. Family law legislation trumps trust common law/equity.
  3. Terry_w

    SMSF Legal Question

    Why? Super is divisible by the family court and whatever is in the deed etc can be disregarded. See Family Law Act s 90MB
  4. Terry_w

    SMSF Legal Question

    See NSWSC case of Smith v Public Trustee - Deceased was director of trustee, sole shareholder, appointor and only beneficiary to ever receive a distribution. Still a valid trust!
  5. Terry_w

    SMSF Legal Question

    Yes that is correct. Why would you think it could be considered a sham? The company is a 3rd party holding assets on trust for the member.
  6. Terry_w

    SMSF Legal Question

    There are no restrictions under the sis act on shareholdings. anyone could be a shareholder. But from an estate planning perspective think what would happen if you are sole shareholder/director die? Under the corporations act the LPR will take control of the company, and hence the SMSF. The...
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