ASIC has released Information Sheet INFO216, which summarises the AFS licensing requirements for accountants who are providing services to self-managed superannuation funds. ...
ASIC has released Information Sheet INFO216, which summarises the AFS licensing requirements for accountants who are providing services to self-managed superannuation funds.
The Commissioner has released draft Practical Compliance Guideline 2016/D16, which is intended to give some guidance as to how the Commissioner might exercise this discretion.
The legislation implementing the substantive changes to superannuation announced in the 2016 Budget has now passed through Parliament.
A Supreme Court of Queensland decision has highlighted the broad scope of payments that are subject to payroll tax – and the importance of getting the documentation right.
In April 2016 the ATO released PCG 2016/5, which outlined its views on when loan terms would result in income from a related party loan for an LRBA being non-arm’s-length income (NALI) to the SMSF (and taxed at top tax rates in the SMSF, rather than the concessional tax rates
From 1 July 2016, the Queensland Government has extended the duty exemption for transfers of assets used in a primary production property.
The full Federal Court recently considered whether a dividend access share was a debt or equity interest. The majority concluded that the particular share was a debt interest – as a result, there was no entitlement to franking credits.
The ATO has thrown a lifeline to SMSF trustees in the rush to get limited recourse borrowing arrangements (LRBAs) on commercial terms by the end of this 2016 financial year.
Directors can be personally liable to pay the Commissioner of Taxation the amount of an unfair preference payment relating to pay as you go withholding (PAYG) where the Commissioner is ordered to pay the amount to a liquidator.
The new CGT withholding provisions commence on 1 July 2016 and, as the commencement date draws closer, it is becoming more apparent that the scope of the provisions is much wider than suggested by the government and the ATO.
A loan will be a complying 25 year loan under Division 7A if the requirements in section 109N are satisfied.
The question of whether a trustee can make an effective distribution of capital to beneficiaries from an asset revaluation reserve has been clarified by the decision of the High Court in Fischer v Nemeske Pty Ltd [2016] HCA 11 (delivered on 6 April 2016).
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.