Division 296 Tax: The Estate Planning Wake-Up Call for SMSF Trustees
Overview As Division 296 moves from policy discussion to legislative reality in Australia, Self-Managed Super Fund (SMSF) trustees and their advisers must reassess their estate planning strategies. The introduction of this tax regime, targeting high superannuation balances, presents significant implications for succession planning, death benefit nominations, and the management of reversionary pensions. Legislative Status Division […]
Understanding Subject to Finance in Australian Real Estate
Understanding ‘Subject to Finance’ in Australian Real Estate Buying a home is an exhilarating experience, but it can also be a nerve-wracking one. Once you’ve found your dream home, the next crucial step is determining if you can afford it. This is where the term ‘subject to finance’ comes into play. In Australia, this term […]
Division 296: What the New $3 Million Super Tax Means for SMSF Trustees
With the Federal Election now behind us, Treasury has confirmed that the proposed Division 296 “earnings tax” on superannuation balances above $3 million will proceed from 1 July. While draft legislation is still being refined, the core policy settings are now clear and SMSF trustees should start planning—especially where significant real property sits inside the fund. Key Features of the […]
Government Green Lights Commutation of Legacy Pensions for Improved Retirement Planning
Government Provides Green Light for Commutation of Asset Test Exempt Legacy Pensions The landscape of legacy retirement products is undergoing significant changes with the introduction of the Social Security (Waiver of Debts – Legacy Product Conversions) Specification 2025. Released on March 28, 2025, this legislative instrument aims to address a critical policy conflict regarding the […]
Understanding Property Caveats and Their Importance in Real Estate
What Is A Property Caveat? Property caveats are essential legal instruments in the realm of real estate, playing a vital role in protecting the interests of individuals or entities that have a claim on a specific land or property. Serving as a statutory injunction, a property caveat effectively notifies others of the claimant’s interest and […]
Banning Foreign Purchases of Established Dwellings: What You Need to Know
At Hill Legal, we’re committed to keeping you informed about the latest legal developments in Australia. Recently, the Australian Government announced significant changes to foreign investment rules concerning established dwellings. Here’s what you need to know about these changes and how they might affect you. On 16 February 2025, the Government revealed a temporary ban on foreign […]
Understanding the Cooling Off Period in Property Transactions
What Is A Cooling Off Period? A cooling off period is a designated timeframe, typically lasting a few days, during which a buyer of a property has the right to cancel their contract with a nominal fee, which varies by state. This period is designed to provide peace of mind for buyers, allowing them to […]
Addressing Client Anxieties on Financial Security Strategies for Advisers
Addressing Client Anxieties About Financial Security Over the past week, we’ve engaged with advisers across the country, and one message consistently emerges: clients are anxious about their financial security. This anxiety stems from various factors, including economic uncertainty, market volatility, and changing regulations. As financial advisers, it is crucial to understand these concerns and address […]
The Importance of Subject to Finance in Property Offers
How Important Is ‘Subject to Finance’? When making an offer on a property, home buyers have the opportunity to include key conditions that can protect their interests during the purchasing process. Among these conditions, “subject to finance” is one of the most critical. This clause ensures that the buyer’s offer is contingent upon securing the […]
Validity of Unsigned Wills Insights from Kemp v Findlay
Can an Unsigned Will Still Count? Lessons from Kemp v Findlay The case of Kemp v Findlay raises significant questions about the validity of unsigned wills and the legal principles surrounding testamentary intentions. In this case, the court examined whether a will that was not formally signed could still be recognized as valid, shedding light […]
