Regulation Round-up: Quarter I, 2018

30-Mar-2018

Lodgement date deferred Lodgement for the SMSF 2017 annual return has been deferred until 30 June 2018, also giving more time to make transitional capital gains tax elections. This is a Saturday, so SMSFs will in fa.. Read More

Regulation Round-up: Quarter I, 2018

30-Mar-2018

Lodgement date deferred Lodgement for the SMSF 2017 annual return has been deferred until 30 June 2018, also giving more time to make transitional capital gains tax elections. This is a Saturday, so SMSFs will in fa.. Read More

Regulation Round-up: Quarter IV, 2017

02-Feb-2018

Transfer balance cap report NAT 74923-09.2017 SMSFs do not need to report any information relevant to the transfer balance cap until 1 July 2018, but they can choose to start reporting from 1 October 2017 with the re.. Read More

Regulation Round-up: Quarter III, 2017

16-Oct-2017

Penalty unit value increases The value of each commonwealth penalty unit increased by $30 on 1 July 2017 to $210. This increases the cost of fines for specified breaches. The value will increase each three yea.. Read More

Regulation Round-up – Quarter III, 2017

04-Oct-2017

Penalty unit value increases The value of each commonwealth penalty unit increased by $30 on 1 July 2017 to $210. This increases the cost of fines for specified breaches. The value will increase each three years in l.. Read More

Regulation Round-up: Quarter II, 2017

04-Jul-2017

Diverting personal services income into an SMSF – deadline extended Due to the volume of change with the 1 July changes to superannuation, SMSF trustees were given an additional three months to contact t.. Read More

Regulation Round-up: Quarter I, 2017

18-May-2017

Super changes passed as legislation Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016,Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016 and Superannuation (Excess Transfer.. Read More

Regulation Round-up: Quarter IV, 2016

03-Feb-2017

Three tranches of superannuation reforms The federal government has released exposure draft legislation in three tranches to introduce the 2016 budget proposals for the reform of superannuation. These drafts have be.. Read More

Regulation Round-up – Quarter III, 2016

01-Nov-2016

Diverting personal services income Taxpayer Alert (TA) 2016/6 Strategies that divert personal services income into an SMSF are being examined by the ATO, with a warning issued under TA 2016/6. Examples incl.. Read More

Regulation Round-up – Quarter II, 2016

28-Jun-2016

Safe harbour guidelines for LRBAs PCG 2016/5 Limited recourse borrowing arrangements (LRBA) need to be set up on commercial terms to avoid an assessment (and tax penalties) as non-arm’s-length income. The.. Read More

Regulation Round-up – Quarter I, 2016

27-Apr-2016

Debate on taxation of TRIS payments ATO private binding ruling Income payments from superannuation pensions are taxable if paid to a recipient under age 60 (or paid from an unfunded scheme). This is regardless of whe.. Read More