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2016 June ClearNews

Welcome to ClearNews June 2016.

Every few months, ClearNews tells you what's new at Cleardocs. We also send you monthly ClearLaw emails discussing legal developments relevant to the documents we provide.

Cleardocs Team

ASIC fee increase effective 1 July 2016

From 1 July 2016, ASIC fees will increase. The fee increases apply to lodgements including the following company services:

While the ASIC fee increases mean the total price of some Cleardocs document packages will change, Cleardocs fees and charges remain the same.

Please note that ASIC fees are not subject to GST.

Related party 'safe-harbour' guidelines: where to now?

You may have read our recent ClearLaw article "ATO releases 'safe harbour' guidelines for certain superannuation borrowings". As a result of these guidelines, some customers have spoken to us and our lawyers at Maddocks about the need to amending existing borrowing documents.

A recent ATO news release indicates that SMSFs with existing LRBAs will not be subject to compliance action by the ATO for the 2014—15 financial year and prior as long as they ensure their LRBAs are consistent with the guidelines before 31 January 2017. ATO guidelines suggest that SMSF trustees should choose one of the following options to ensure compliance:

  • alter the terms of the loan to meet the guidelines;
  • refinance through a commercial lender; or
  • pay out the loan and bring the borrowing arrangement to an end.

If you would like to alter the terms of your SMSF's loan to meet the guidelines, please contact our helpline on 1300 307 343 — we can put you in touch with Maddocks, who can assist you with varying your SMSF's existing loan arrangements.

Cleardocs helpline hours for end of financial year

Please be assured that the Cleardocs helpline will continue to operate as usual during the end of the financial year period, from 9am until 5:30pm Monday to Friday. We are always ready to help you and welcome your feedback.

The free legal helpline at Maddocks will maintain its operating hours. If you have a legal question relating to a Cleardocs document package, please call us and we will put you in touch with a lawyer at Maddocks.