In a rare win for the taxpayer, the Administrative Appeals Tribunal (AAT) has set aside the decision of the Australian Taxation Office (ATO) to issue a non-compliance notice to the ...
In a rare win for the taxpayer, the Administrative Appeals Tribunal (AAT) has set aside the decision of the Australian Taxation Office (ATO) to issue a non-compliance notice to the trustee of a self managed superannuation fund in Pabian Park Pty Ltd Superannuation Benefits Fund v FCT.
A recent Australian Tax Office (ATO) interpretative decision has confirmed that a member can make a contribution to a self-managed super fund (SMSF) prior to 30 June 2012, claim the deduction for the 2012 financial year, and the trustee of the SMSF can allocate the contribution to the member in
On 23 May 2012, the ATO released SMSFR 2012/1 confirming its position on the application of a number of key concepts for limited recourse borrowing arrangements by trustees of self-managed superannuation funds (SMSFs).
The new Personal Property Security Act (PPSA) started on 30 January 2012.
On 6 February 2012 the Administrative Appeals Tribunal (AAT) handed down its decision in Montgomery Wools Pty Ltd as trustee for Montgomery Wools Pty Ltd Super Fund v Commissioner of Taxation [2012] AATA 61.
Individual versus corporate trustee – one of the common questions for SMSF trustees.
On 13 October 2011, amendments were introduced to make directors personally liable for unpaid superannuation contributions where the company does not comply with its superannuation guarantee obligations.
It is easy to forget that income of a superannuation fund can be taxed at the top tax rate, even if the fund is in pension phase.
On 14 September 2011 the ATO issued draft ruling SMSFR 2011/D1.
The ATO has released TR2011/D3 about when a pension starts and stops.
Following the High Court decision in Bamford, we have reviewed a lot of unit trust deeds and have seen many unit trusts with superannuation funds as unitholders. The danger is that when a superannuation fund holds units in a typical unit trust, there is a significant risk the ATO will
The Government recently introduced a Bill to amend the super fund borrowing rules by replacing the existing exception in section 67(4A) of the Superannuation Industry (Supervision) Act 1993 with sections 67A and 67B.
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.