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Let’s look at how backdating affects different aspects of car insurance, health insurance and life insurance.

If you could do this, nobody would ever buy car insurance until after an accident happened.

While that can theoretically save you money, you need to realize that you’ll have to pay the premiums for the months covered by the backdate.

You’ll have to do the math to see if the overall savings realized for backdating your age are greater than the cost of the additional monthly premiums.

The disqualification will be a public matter as any third party searching the name of a person who has been disqualified may stumble across the ATO’s announcement in the government Gazette that this person is not a ‘fit and proper person’ to manage an SMSF. As for those professional advisers who have been doing the backdating, their dishonest conduct not only puts them at risk of losing clients, but may also result in a loss of licence and/or criminal sanctions. Solution If the parties have agreed that the deed should be effective from a date earlier than when they actually sign the document, and the facts surrounding that earlier date line up, this should be communicated to the drafter of the deed as they may be able to reflect this retrospective arrangement in the drafting.

Insurance Policy Backdating, by definition, is the practice of putting a calendar date on any document that is earlier than the date on which that document was actually written. Backdating a car insurance policies is illegal and something no reputable insurance company or agent would ever do. Because it implies that you had coverage on your vehicle before you actually did.

You meet with your designer and toss around some ideas. There are several versions, lots of back and forth conversation.

This not only undermines the integrity and legal existence of the trust, but also creates hurdles that will delay dealings with third parties such as banks and duties offices.

The insurer will either use your actual age or the age you are nearest to based on the birthday you’re closest to.

It is legal to backdate a life insurance policy by up to 6 months to help you get the lowest rate allowed for that age.

While this may seem harmless, in extreme circumstances in NSW, it could land you in gaol for up to 10 years, because, contrary to some popular belief, backdating is not only not recommended, it is fraudulent and illegal.

Depending on the intention, legislation in Australia makes it a crime for someone to make a false document, and that includes a document that purports to have been made on a date when it was not in fact made. You may do more harm than good In terms of trusts (such as SMSFs and family trusts), they come into existence only when a person (the trustee) holds an asset (trust property) on trust for someone else (the beneficiary). Yet, we sometimes see trust deeds which are dated, let’s say 1 July 2015, when the corporate trustee was not incorporated until 3 July 2015.

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