The Government recently released for public consultation the third round of exposure draft legislation and explanatory material to lower the annual non-concessional contributions (‘NCCs’) cap to $100,000 and restrict eligibility... read more →
Overview of TD 2016/16 The Australian Taxation Office (‘ATO’) released Taxation Determination TD 2016/16 — Income tax: will the ordinary or statutory income of a self-managed superannuation fund be non-arm's... read more →
This article examines in detail whether automatically reversionary pensions are still an appropriate SMSF succession planning strategy in view of recent super reforms especially the $1.6m balance cap proposal that... read more →
One of the most disturbing aspects of the $500k lifetime non-concessional contribution (NCC) cap announced in the 3 May 2016 Federal Budget is that it catches prior NCCs made since... read more →
We are about to enter a period of substantial reform. We have therefore prepared a brief ‘stock take’ of what the reform proposals look like as at the start of... read more →
This article looks at whether a parent and deceased child can be in an interdependency relationship for the purpose of satisfying the definition of death benefit dependant in the... read more →
There can be compelling reasons why one might want to share a self managed superannuation fund (SMSF) with others. However sharing an SMSF with a spouse (especially a second... read more →
The ATO have released important information detailing interest rates, loan-to-value ratios (‘LVRs’) and other terms that constitute safe harbours for SMSF limited recourse borrowing arrangements (‘LRBAs’) so that arrangements will... read more →
A desire for some people who exit large funds and start a new SMSF is to leave a portion of their superannuation in the large fund. This is often... read more →
Determining whether payments to a contractor are covered by the superannuation guarantee (‘SG’) regime can be a vexed and difficult exercise. Of particular interest is whether an incorporated contractor... read more →
Through ATO ID 2015/27 and ATO ID 2015/28 the ATO seem to have cemented their position in relation to the application of s 295-550 of the Income Tax Assessment Act... read more →
All newly acquired investments by SMSF trustees in collectables and personal use assets since 1 July 2011 have been subject to strict rules under reg 13.18AA of the Superannuation Industry... read more →
The Federal Parliament recently passed legislation which affects the tax treatment of limited recourse borrowing arrangements. The Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (Cth) (‘Act’)... read more →
A unit trust is a popular structure to hold property and other investments. Many publicly offered managed investments fund are structured as a unit trust to allow multiple investors to... read more →
In an attempt to simplify the SG regime, and reduce the penalties associated with the SGC, the Government has introduced the draft Superannuation Guarantee Legislation Amendment (Simplification) Bill 2015, which... read more →
A new Federal Court case underscores the continuing relevance of pecuniary penalties under the civil penalties regime to the ATO’s enforcement toolkit. Facts of the case The facts in Deputy... read more →
We are pleased to announce that an existing self managed superannuation fund (‘SMSF’) with members over 55 years of age has been added to the recognised overseas pension scheme (‘ROPS’)... read more →
There is no doubt that the very thought of claiming on your own insurance policy is depressing, but the research proves that you (and even me) may be unable to... read more →
We’ve all heard about the “lost billions” sitting in idle superannuation funds around Australia but are you aware of what’s happening to hundreds of millions of dollars sitting in “inactive”... read more →
With a growing trend towards individuals managing their own superannuation through Self-Managed Super Funds (SMSFs), the estate planning aspect of SMSFs is becoming an increasingly important issue. For example, what... read more →