The correct tax treatment of income from assets held by the trustee of a trust for an SMSF under a limited recourse borrowing arrangement (LRBA) has been unclear. ...
The correct tax treatment of income from assets held by the trustee of a trust for an SMSF under a limited recourse borrowing arrangement (LRBA) has been unclear.
1 July 2014 saw the commencement of the new administrative penalty regime, introduced to give the ATO options for trustees who breach the Superannuation Industry (Supervision) Act 1993 that are not as extreme as making the SMSF non-complying.
On 15 December 2014 the ATO finally published its formal view in ATO IDs 2014/39 and 2014/40 on interest-free (0%) or low rate loans to self-managed superannuation funds (SMSFs) from related parties for limited recourse borrowing arrangements (LRBAs) and whether that gives rise to non-arm’s length income in the SMSF.
A transitional security interest is an arrangement or transaction that commenced prior to 30 January 2012 and, if it had commenced after 30 January 2012, it would have created a security interest under the PPSA.
We understand the ATO is preparing to issue section 264 notices to some accountants, requiring the production of documents relating to dividend access shares.
Self-managed superannuation fund administrators, planners and accountants should be aware that the rules to calculate the components of a superannuation death benefit where a person receiving a non-reversionary pension dies have been amended by the Income Tax Assessment Amendment (Superannuation Measures No 1) Regulation 2013. The new rules are effective
From 1 July 2013, accountants, other advisers, companies and partnerships can apply for a limited financial services licence that will allow them, their employees and representatives to provide advice in a range of situations when dealing with self-managed superannuation funds (SMSFs), without holding a ‘full’ AFSL.
A recent alert to trustees from the Australian Taxation Office (ATO) states that trustees who make beneficiaries entitled to trust income by way of resolution must do so by the end of an income year (June 30) for that to be effective for determining who is to be assessed on
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.