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 ...
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.
On 26 May the Government introduced the Superannuation Industry (Supervision) Amendment Bill 2010 into Parliament to replace the current borrowing exception in section 67(4A) with new sections 67A and 67B.
The Tax Office has recently released a draft Self Managed Superannuation Fund Determination (SMSFD 2009/D1) outlining the Commissioner’s view that the acquisition of a trauma insurance policy by the trustee of a self managed superannuation fund (SMSF) does not necessarily result in a contravention of the sole purpose test.
The Tax Acts have long treated dividends paid from private companies to the trustees of superannuation funds as “special income”, which means they are taxed at the top marginal tax rate rather than the normal concessional rates for superannuation funds.
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.