Australian Taxation Office Interpretative Decision ATO ID 2014/23 confirms that loans to an unrelated trust will not constitute an in-house asset of an SMSF. However, advisers must exercise a high... read more →
The ATO released Taxation Determination 2014/7 (‘TD 2014/7’) on 9 April 2014 entitled ‘Income tax: in what circumstances is a bank account of a complying superannuation fund a segregated current... read more →
The end of the financial year is fast approaching. We now address some of the key items that should be considered in the lead up to 30 June 2014. DBA... read more →
Superannuation year end planning for 2014 The end of the financial year always seems to crop up faster than it should. Understanding what you could do before and after... read more →
The Federal Government has introduced a series of reforms, known as ‘Stronger Super.’ These reforms are set to deliver major changes to Australia’s superannuation system. Stronger Super will impact super... read more →
The Government has proposed some relatively conservative changes to Australia’s superannuation and retirement system in this year’s Federal Budget. Superannuation contribution caps One of the more interesting developments is the... read more →
Superannuation issues are some of the most important considerations to keep in mind as the end of the financial year approaches. Spouse contributions The spouse super tax offset allows higher... read more →
What’s in the Federal Budget for you? Last night, the Treasurer, Mr Joe Hockey, delivered his first Budget describing it as “the Budget that gets on with the job and... read more →
Introduction Those who have suffered loss as a result of defective ATO administration may be eligible to claim compensation from the ATO. Such compensation will only be available in limited... read more →
The ATO has warned SMSF trustees about a new range of SMSF administrative penalties that can be imposed for a range of breaches of the law. This includes breaches that... read more →
If you don't have an 'arm's length' SMSF loan, you're likely to be in for a huge tax bill! Introduction The ATO have released a private binding ruling suggesting that... read more →
Sole purpose corporate SMSF trustees have been touted as superior for many years. While the ‘old’ reasons for having one still ring true, recent legal news and ATO policy make... read more →
Traditionally, SMSF trustees have effected insurance for members under a self-insurance model. This involves the SMSF trustee to take out, say, death insurance on a particular member. In the event... read more →
In taxation ruling TR 2010/1 the ATO consider what is a contribution to a superannuation fund and when a contribution is made. A recent court case, Liwszyc v Commissioner of... read more →
The ATO recently released an important draft tax ruling TR 2013/D7 (‘D7’) that focuses on the apportionment of expenses incurred by a superannuation fund where a fund derives both assessable... read more →
Concerns are growing with the increased commoditisation of the SMSF industry and our usage of cheap generic SMSF documents available on the internet. It’s becoming easy and cost-effective to purchase... read more →
In the years since the introduction of contribution caps (generally from 1 July 2007), the maximum amount you may contribute to your superannuation has changed quite a few times. As... read more →
Ready or not, the end of the year is fast approaching and now is the perfect time to start thinking about the year(s) ahead. In particular, this time of... read more →
Did you know that one in three marriages ends in divorce ? It’s really no surprise then, that the number of blended families in Australia is rising . A blended... read more →
The most important case ever in SMSF succession planning … and what it really means This article was produced by DBA Lawyers. Disclaimer: DBA Lawyers advised the plaintiffs during the course... read more →