Navigating Company Restructuring: Restructuring of Companies by Specialist Advisers and its Associated Risks

The case of Connelly (liquidator) v Papadopoulos, in the matter of TSK QLD Pty Ltd (in liq) (TSK) [2024] FCA 888 provides important insights into the serious implications for directors and officers of companies and professional advisers involved in the restructuring of companies when later found to be asset-stripping schemes. When restructuring, companies must conduct thorough due diligence and plan for a smooth transition to mitigate operational risks.

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Superannuation, Tax Joseph Flanagan Superannuation, Tax Joseph Flanagan

The Impacts of Division 296 – Is it coming back?

While some industry voices call for a deferral, with Labor’s recent election win and more favourable senate, commentators have raised that it could be likely that the proposed Division 296 tax will commence on 1 July 2025.

Affected individuals should evaluate whether to act now or wait, depending on personal circumstances. Options include withdrawing super before or after the start date or doing nothing if modelling shows better long-term outcomes. Each option should be carefully considered based on individual’s financial situations.

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Absolute Vision Technologies: Former SMSF Corporate Trustee in Administration Still Holding SMSF Property

The New South Wales Supreme Court decision in Re Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 provides judicial guidance in relation to whether a former corporate trustee, despite being in voluntary administration, could complete a sale contract for SMSF property and distribute the proceeds to the new trustee.

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Binding Death Benefit Nominations – Notice and Conduct 

A binding death benefit nomination (BDBN) is a direction from a member of a superannuation fund to the trustee of the superannuation fund on how that person’s superannuation entitlements are to be paid or transferred on their death. In the absence of a BDBN, the trustee is not compelled to distribute the superannuation proceeds in accordance with the member’s wishes.

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Victorian Farmers, will changes to retail leasing apply to you?

In some circumstances farm leases will be outside the scope of The Retail Leases Act (Act) following a determination by the Minister for Small Business, exempting farm leases from the Act, effective from 29 October 2019.

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