2024 Releases
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      3. 2024 Releases

      January 2024 Updates

      DOCUMENT UPDATES

      • 08/01/2024 Commercial Property Lease Agreement - Add new question 'Is the rent inclusive or exclusive of GST'
      • 08/01/2024 The LYD Will, The LYD Will and EPOA & The Moat and Castle - Added 's' in predecease if executor is more than one in Wills template clause 2.2 to 4
      • 08/01/2024 SMSF Deed of Variation documents - "Added clause the following clause under ""General and Broad Trustee Powers to Act.""

        hh)    To create on the death of a Member of the Fund, either at the discretion of the Trustee or pursuant to a Binding Death Benefit Nomination or a SMSF Will, a trust to hold a deceased Member’s superannuation interests for the benefit of a dependant of the Member
        ii)    To transfer superannuation interests that may be subject to a wealth tax or accruals taxation, to a trust or family protection trust, provided a cashing restriction has been met by the Member
        jj)    To create trusts, whether formally or informally, to hold Member’s superannuation interests, for any purpose including asset protection, protection from family provisions claim or to provide for a Member’s bloodline family members.

        Replaced all text that state ""Member's legal estate"" to ""Member's legal personal representative.""

        Removed the text ""or the deceased Member's Legal Estate"" in clause (b) and (c) under SMSF Deathb Benefits and Binding Death Benefit Directions."
      • 10/01/2024 Trust documents & Trust Upgrade documents - Changed the clause (a) "alter, vary, or revoke any or all of the trust provisions, terms and conditions contained in this deed (but not so as to benefit the Settlor)." under clause (11) Amendment.
      • 10/01/2024 Moat and Castle - Changed the clause (a) "alter, vary or revoke any or all of the trust provisions, terms and conditions contained in this deed (but not so as to benefit the Settlor). This sub-clause is irrevocable if the Trust holds property in New South Wales; or" under clause (11) Amendment.
      • 12/01/2024 Company documents, Successor Directors documents, The LYD Will and EPOA & The Moat and Castle - Updated Letter of Advice for Successor Director.
      • 15/01/2024 Trust documents & Trust Upgrade documents - Added the updated Letter of Advice for Trust Deeds
      • 17/01/2024 Enduring Power of Attorney & The LYD Will and EPOA - Fixed short form QLD formatting for the standard and with spouse template and added Witness Name and Signature under the ""Person signing for the principal"" section
      • 17/01/2024 Change of Trustee for SMSF - Fixed issue on numbering in party section
      • 17/01/2024 Addition of a Reversionary Pension - Fixed floating data elements in the showing in the general tab and fixed Trustee Declaraction missing output data elements in the template.
      • 17/01/2024 Deed of Succession Appointors and Leading Members - Fixed the Appointors Tab repeater. Exclude all signers data elements for non required signers.
      • 22/01/2024 Changes to Discretionary Trust Positions and Name - Added condition if there are no changes in Trust Position, The Letter of Advice will no longer appear in the template on preview or when assembling the document.
      • 23/01/2024 SMSF documents - Replaced the last line paragraph of The Family SMSF to "In addition as per the legislation, the SMSF fund can now have six members."
      • 23/01/2024 Account Based Pension - Applied changes for year 2024-2025.
      • 25/01/2024 Advance Care Directive - VIC - Fixed all sub tittle part font text size.
        - Fixed spacing and formatting for Part 1: Personal details to suit for the standard form.
        - Fixed clause c table for Part 2: Values directive.
        - Added Part 2 clause c instruction ""Part 2 c) of the instructions includes  a table with examples of health outcomes to help you complete this section.""
        - Fixed header issues. (Some headers are not visible when previewing the template, it will appear after assembling the template.)
        - Removed text ""If certified"" in the NAATI number for the Interpreter statements.
        Visible Cross Answers are much thinner than previews version.
        - Restructured Table for Part 3: that suits for client's answer and form important details.
        - Replaced the ""Treatment Decision for Terminal and Permanently Unconscious"" TAB to ""Medical treatments consented to""
        - Replaced the ""Treatment Decision for Vegetative State and Other Illness"" TAB to ""Medical treatments refused to""
        - Removed all the wordings of ""I do want"" and ""I do now want"" for the answers. Just the Medical Process is being declared.
        - Fixed Frist, Second and Third Medical Treatment Decision Maker repeater caption for the interview.
        - Added Page numbering
      • 29/01/2024 Company documents, Successor Director Solution documents, EPOA, The LYD Will and EPOA & The Moat and Castle - In successor director template, changed Director’s to Director(s) in table of motion and changed ‘an successor’ to ‘a successor’. In Indemnity template remove and in clause 1.2.g. 
      • 29/01/2024 Indemnity For Successor Director - Removed and in clause 1.2.g. 
      • 30/01/2024 Trust documents, Trust Upgrade documents & Moat and Castle - Following changes were made:
        - Fixed clause 5.4 text fomat corrected spacing for  ""pursuantto"".
        - At clause  6.4 , 6.5 and 6.6, removed the text ""The Trustee"" from the beginning of the sentence.
        - Fixed all text that says ""Trust fund"" to ""Trust Fund.""
        - Corrected some clause numbering format errors."
        - Replaced the definition of Income in the deed.
        ‘Income’ of The Trust means that amount as determined by The Trustee, including accounting Income, and if The Trustee makes no such determination, ‘Income’ means all profits or gains less expenses taken into account in calculating the net Income of The Trust, and exempt Income, as defined in Section 95(1) of the Act excluding notional amounts, notwithstanding that the whole or any part thereof may otherwise constitute capital of The Trust. Where the trustee is required to gross up amounts of income such as for franking credits, foreign tax credits, etc, include amounts of deemed assessable income, or make any deemed deduction, then they must not include these in calculated net income of the Trust for the financial year.
      • 30/01/2024 Moat and Castle - Added the updated Letter of Advice for Trust Deeds
      • 30/01/2024 Member Leaving A SMSF - Fixed clause 8 bullet points and remove the text "ExternalLink". In clause 8 Added text "or" in the third point of Member Exit Requirements.
      • 31/01/2024 Company Establishment documents - Updated the limit for the foreign address to 60 characters.
      • 31/01/2024 Standard Company & Upgrade to LightYear Docs Standard Company
        - Added letter of advice for Standard company Constitution.
      • 31/01/2024 The Successor Director Solution – Single Company plus upgrade - Added letter of advice for Standard company Constitution and updated interview help caption for selection for upgrade company constitution - "WARNING: Unless you choose to retain the share class, you must acknowledge that choosing this constitution will change the class of shares to reflect the LYD share class as included in the standard company."
      • 31/01/2024 Enduring Power of Attorney, The LYD Will, The LYD Will and EPOA & The Moat and Castle - Updated Caption for EPOA NSW "fee is $225" to "fee is $295 plus GST."