Shane Ellis Lawyers in Robina, Queensland | Business service

Shane Ellis Lawyers

Locality: Robina, Queensland

Phone: +61 7 5534 3900

Address: 76-84 Robina Town Centre Dr Unit 4 4226 Robina, QLD, Australia

Website: http://www.ellislaw.com.au

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22.01.2022 The Australian Taxation Office has admitted that as many as 75,000 SMSFs totaling assets up to $50 billion could be breaking the rules, leading some in the industry to suggest that the sector should be subject to tighter regulation. Last month Australian Taxation Office (ATO) assistant deputy commissioner for superannuation, Stuart Forsyth, speaking at the Institute of Chartered Accountants Australia's (ICAA) National SMSF Conference said that: "between 85% to 95% of trustees... are responsible and act within the fund's trust deed and the provisions of the super and income tax laws.".... see more at http://www.smsf-law.com.au/articles/cat/breaking-news and ensure to purchase our SMSF Trustee Compliance Checklist to ensure that you are not one of the 75,000 or even worse ending up in striped pj's http://www.smsf-law.com.au/pages/secure-online-shop.php See more

17.01.2022 An issue litigated in the Federal Court in the case of Kelly v Commissioner of Taxation. The Court denied the deduction for super contributions made on behalf of the Taxpayer by the trustee for the Family Trust (FT) on the basis that directors of a Co are not entitled to claim remuneration from the Co for services performed unless specifically provided for in the Co’s constitution or approved by shareholders. Please ensure all client’s company constitutions are up to speed on point especially where the company is making a payment to them on point as a Director/Director of a Trustee of a FT. http://www.smsf-law.com.au Check out Shane Ellis' latest articles!

16.01.2022 A bottle of Wild Turkey yesterday, flowers today! Just goes to show how amazing our wonderful Kimmy is at conveyancing and ensuring the best for our clients!!!!!

14.01.2022 We would like to Welcome Shane Ellis back into the firm bringing with him SMSF LAW & EquityProtect. Shane is a senior consulting Lawyer who specialises in Self Managed Super Funds (SMSF) & Estate Planning Law. Shane is one of only a few Lawyers in Australia with his RG146 Compliance!

14.01.2022 BUYER BEWARE As with anything that you do in life you have to understand it! Study it, know it, investigate it and don't just TRUST the word of someone else. Remember that you may TRUST someone as a person BUT do you trust their knowledge in the area that you are potentially going to invest in or in contrast, you may trust someone's knowledge but do you really know that person? Unfortunately there are scammers out there taking advantage of people who have the money to invest...Continue reading

11.01.2022 http://www.smsf-law.com.au

10.01.2022 Watch this space for our brand new website!

10.01.2022 Merry Christmas and it appears Santa has delivered early to our reception, might have to open some pressies this morning.

07.01.2022 Being step parents with a SMSF can come with huge complications if your SMSF Estate structures have not been set up, or if the structures have not been set up correctly. Here is a quick scenario: My partner (John) and I each have $600K in life insurance inside the SMSF and $250K each in our member’s accounts. If we were to both pass away in the same incident and the doctors were unable to specify the order of us passing, the law would specify that the deaths had taken place ...from oldest to youngest. Namely, the law would say that I (being 1 year older than John) had passed away first! That would mean that John’s family would likely wind up with control of the SMSF and the personal estate of John (which would be valued at E$1.789M) & the Executors of John’s estate if they took control of the SMSF could pay the SMSF balances to John’s surviving kids, or to John’s legal estate & this would be to the total exclusion of my three children. OUCH!!! Looking at the facts from a different perspective, say John were to pass away before we put Family Estate Protection Planning structures in place to protect his SMSF interests including that $600K of life insurance in his name. Then I would receive total control of our SMSF & I can act on the member’s balances in John’s SMSF accounts to the exclusion of his children if I chose to do so. At law once the bloodline parent of children passes away the step parent ceases to be a step parent at law. If I act in accordance with the SMSF Deed, & the SMSF laws there is nothing his kids can do. (Remember he didn’t have any SMSF estate documents in place.) His bloodline could simply miss out in favour of my bloodline, because when I pass away I can distribute the SMSF balances to my kids! Everything in life has its priority and unfortunately fate can unexpectedly raise its ugly head at any time. Acting now & having the correct structures in place can prevent ugly court cases, wasted time and money and more importantly the emotional stress of families torn apart over money issues. "Prevention is better than cure and much cheaper in matters of the law" Shane Ellis http://www.smsf-law.com.au

02.01.2022 http://www.smsfstrategyday.com.au