BLB News

Digital signing of documents: Is the witness going the way of the Dodo? Part 1


If a document is signed in the woods, and no one is around to witness it, is the document still valid? Digital signing softwares say 'absolutely' but they would wouldn't they? Jim Townsend examines the issues

Don't throw the SMSF out with the bathwater Part II - SMSFs Rock!


Two very good news stories put the lie to all the negative nonsense talked about SMSFs by industry and retail funds and their political fan clubs. Peter Townsend reports.

Life's too Serious


4 in-depth comments about Brexit (we're Australian, but we still know about these things)

The pitfalls of making a homemade Will


While homemade Wills and Do It Yourself Will kits may appear to be an 'easier', 'timely' and 'cheaper' alternative than instructing a lawyer to draft your Will the recent Victorian Supreme Court case of Re Hely; Application by Arbuthnot & Donaghue [2018] is a reminder of some of the pitfalls which may arise when a homemade Will has been prepared. Elizabeth Wang outlines some of the issues.

Related party loan to SMSF - when is a loan not a loan?


John is the sole member of his SMSF and is the sole director of the fund's corporate trustee. After seeking financial and tax advice on the benefits of owning a property in his SMSF, John decides to sell his investment property valued at $1m to his SMSF. As his SMSF's available balance is $200k short of the market value, he enters into a contract with the SMSF for a loan of $200k to fund its purchase using a limited recourse borrowing arrangement. In lieu of paying the loan amount to the SMSF, he received $800k as the vendor from the SMSF on settlement, the $1m sale price less his 'loan' of $200k to the fund. But is that $200k really a loan? Jeff Song explains.