Introduction The recent decision of Deputy Commissioner of Taxation v Lyons [2014] FCA 1353 provides various insights for SMSF trustees, as explained in this article. Facts of decision On 6... read more →
In this article, we look at the liquidity risk associated with holding fixed property in SMSFs, as well as some of the factors to consider when investing in these types... read more →
Two ATO Interpretive Decisions (ie, ATO ID 2014/39 and ATO ID 2014/40 both published on 12 December 2014) address the question: Will ordinary or statutory income derived by an SMSF... read more →
The ATO has recently released self managed superannuation fund determination SMSFD 2014/1. SMSFD 2014/1 builds on taxation ruling TR 2013/5 and SMSFD 2013/2 and provides some important insights regarding the... read more →
ATO Interpretive Decision 2014/22 addresses the question: ‘Can an adult child be a 'death benefits dependant' of his or her deceased parent for the purposes of section 302-195 of the... read more →
There are many strategies put forward on how to provide smooth and effective succession for a self managed superannuation fund (‘SMSF’) members. Fortunately, while there is no ‘one size fits... read more →
There has been much conjecture as to whether a self managed superannuation fund (‘SMSF’) trustee can implement a cross-insurance strategy after 1 July 2014. The ATO recently addressed this question;... read more →
A recent AAT decision further illuminates when residential property can fall within the definition of business real property. Many would say that the trustee of an SMSF is prohibited from... read more →
The FSI final report — chaired by David Murray — was recently released. The full text is available at http://fsi.gov.au/publications/final-report/ As expected, it has recommended that limited recourse borrowing arrangements (‘LRBAs’) in... read more →
ATO's DO-IT amnesty comes to an end 19th December Project DO-IT (Disclose Offshore Income Today) is an ATO initiative that is coming to an end on the 19th December 2014.... read more →
Two mysteries that loom large on the SMSF landscape are the issues of SMSF penalties and the sole purpose test. However, a recent Federal Court case sheds some light on... read more →
Introduction True to its word, on 10 October 2014 the Government introduced draft legislation, which proposes practical and long-awaited changes to the treatment of excess non-concessional contributions (‘NCCs’). This article... read more →
In 2013, DBA Lawyers released an article that considered the ability to deduct superannuation contributions for directors of trustees of ‘passive’ investment trusts. The article proved to be quite controversial.... read more →
The latest official word on the status of excess non-concessional contributions was a positive one, but caution is still needed. The latest official word The ATO published on Friday 26... read more →
Often self managed superannuation funds (‘SMSFs’) are created with the best of intentions, whether to provide for a second spouse, create a contingency for a child, entering property ventures with... read more →
ATO issues TRIS confirmation of key commutation strategy The ATO in SMSFD 2013/2 confirmed that an account-based pension can be partially commuted to a lump sum to enable a member... read more →
Many of us often look at what we pay for our insurance cover over a year and wonder if there are ways we can cut the cost of insurance without... read more →
Self-managed superannuation funds (SMSFs) open up a whole new world of investment opportunities for your retirement savings, including direct property. But what if you simply don't have enough money in... read more →
There are now over five hundred thousand Self Managed Superannuation Funds (SMSFs) in Australia where the members of the fund are also the trustees. These trustees are responsible for running... read more →
Introduction A common strategy implemented by business clients is to acquire business real property (usually the premises from which their business is run) via their SMSF and then lease this... read more →