In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Bryce Figot, Special Counsel, discuss the recent VCAT decision D’Arcy v Emergency Services Superannuation Board (Review and Regulation)  VCAT 952 (D’Arcy) and also discuss the upcoming Director Identification Number (DIN) requirements and what that means for company directors.
Zac and Bryce briefly discuss the recent changes being introduced that require all company directors in Australia to obtain a DIN. The key dates to be aware of are summarised below:
All directors appointed on or before 31 October 2021 must obtain a DIN by 30 November 2022.
All directors appointed between 1 November 2021 and 4 April 2022 will either need to apply for a DIN 28 days after becoming a director or obtain a DIN prior to becoming a director.
All directors appointed from 5 April 2022 must obtain a DIN prior to becoming a director.
Zac and Bryce also discuss the recent VCAT decision of D’Arcy which involved a question as to whether a siblings that had a interdependent relationship could receive a partner pension as a superannuation death benefit. While this matter dealt specifically with Victorian state legislation and a state based superannuation scheme, there are some interesting findings in this decisions and lessons to learn about the drafting of SMSF deeds.
Bryce will be presenting DBA Network Pty Ltd’s SMSF Online Update on 12 November 2021 and will be covering the latest in non-arm’s length income, recent DIN changes, lost deed cases plus more. To register, please click here.
For a chance to have your SMSF query addressed on the show, please send your questions to firstname.lastname@example.org.
Related articles and links below.
Director identification numbers needed soon
ABRS – Who need to apply and when
ATO — Modernising Business Registers
Hosts (in order of appearance): Zacharia Galloway, Lawyer and Bryce Figot, Special Counsel
28 October 2021