Draft legislation (the Tax Laws Amendment (New Tax System for Managed Investment Schemes) Bill 2015) has been released to amend the public trading trust rules so they no longer apply ...
Draft legislation (the Tax Laws Amendment (New Tax System for Managed Investment Schemes) Bill 2015) has been released to amend the public trading trust rules so they no longer apply to unit trusts where superannuation funds (including SMSFs) hold 20% or more of the issued units. These amendments will apply
Linda Tapiolas, partner in our commercial team, shares some insights into life at Cooper Grace Ward, her past experiences and predictions for the upcoming year.
On 25 March 2015, the Queensland Supreme Court in Munro v Munro [2015] QSC 61, handed down a decision in which a document that was expressed to be a ‘binding death benefit nomination’ (BDBN) was found to be invalid, allowing the trustees of the SMSF to distribute the deceased’s death
Clinton Jackson, Senior Associate in our commercial team, shares some insights into life at Cooper Grace Ward, his past experiences and predictions for the upcoming year.
At the SMSF Association (formerly SPAA) National Conference, being held this week in Melbourne, the ATO has confirmed they are taking a new approach when an Auditor Contravention Report (ACR) is lodged for an SMSF.
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.
Scott Hay-Bartlem, partner in our commercial team, shares some insights into life at Cooper Grace Ward, his past experiences and predictions for the upcoming year.
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.
Clinton Jackson has been appointed to the Queensland Chapter Committee of the SMSF Professionals Association of Australia.
In the final report for the Financial Systems Inquiry handed down on Sunday 7 December 2014, chairman David Murray recommended that: Government should restore the general prohibition on direct borrowing by superannuation funds by removing Section 67A of the Superannuation Industry (Supervision) Act 1993 (SIS Act) on a prospective basis.
The discretion of the trustee of a superannuation fund to choose the recipient of a death benefit is a core principle of estate planning, particularly where the benefits are in a self-managed superannuation fund.
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.