Archive: May 2021

THE 15% TAX TRAP ON SUPERANNUATION DISTRIBUTIONS (Why you might need a “Conflict of Interest” clause in your EPOA)

  • May 12, 2021

After death, any money that the deceased was still holding in their Superannuation Fund must be distributed out. According to the usual Superannuation rules, the payment of this money is made in line with written instructions* and is typically directed to the deceased’s surviving spouse and/or family members. Under tax laws however, these payments will…

Sharing Family Finances with an Enduring Power of Attorney in place?

  • May 12, 2021

Sharing financial assistance within family networks such as interest free loans, lump sum gifts and even contributing to the cost of the construction of a granny flat for personal occupancy occur all the time. Usually, these arrangements go on between Parents and their adult children but can also be between adult siblings and/or spouses. Commonly,…