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NEWSLETTER 

  
18 May 2015 

Corney & Lind Federal Budget 2015 Update

Gavin Lai

 

The 2015 Budget announces an intention to continue to fund the ACNC, whilst introducing budget changes particularly affecting small businesses, impacting the family law sector and introducing certain tax 'crackdowns'.

 

Our lawyers, James Tan and Gavin Lai, have written an informative article which outlines the key changes which you should be aware of. 

 

You can access the full article here.  

 

Public Ancillary Funds - A "New" Vehicle For Public Philanthropy

Andrew Lind

Last week, Andrew Lind (Director) attended the TEN Charities & Not for Profits: The 2nd Annual National Technical and Regulatory Conference in Melbourne and presented an informative paper on Public Ancillary Funds ("PAFs"). 

This paper, written by Andrew and Jessica Lipsett (Lawyer) explain the function and regulatory framework for PAFs (in particular the requirements of the Public Ancillary Fund Guidelines 2013), deductible-gift-recipient (DGR) status and the classes of potential beneficiaries for PAF funds, potential impacts of recent recommendations for DGR reform on the scope of potential PAF beneficiaries, and the interaction between PAFs and the ACNC.

Read the full paper here.  

New Bill could mean significant Changes to Work Health and Safety Act 2011 (Qld)

James Tan 

On 7 May 2015, the Work Health and Safety and Other Legislation Amendment Bill 2015 (Qld) was read for the first time by the Hon. CW Pitt (Mulgrave - ALP) and if passed in its current form, the Bill will introduce amendments to both the Electrical Safety Act 2002 (Qld) and the Work Health Safety Act 2011 (Qld). 

 

For-profits and not-for-profits will have to familiarise themselves, and may need to make amendments to their current policy and procedures accordingly.

 

You can read the proposed amendments and read our commentary here.

Superannuation - Estate Planning - Binding Death Benefit Nominations - is yours valid? Lessons learnt from Munro & Anor v Munro & Anor

Kathleen Watt

A binding death benefit nomination is a direction given by a superannuation member to the trustees of a superannuation fund as to how the member's superannuation benefits are to be paid on the member's death.  

The case of Munro & Anor v Munro & Anor [2015] QSC 61 in the Queensland Supreme Court illustrates this clearly in the context of a self-managed superannuation fund. 

To read the full case summary click here.
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