Articles by Darin Tyson-Chan

Superannuation, Tax

Div 296 tax will hurt economy

Division 296 tax, Geoff Wilson, Wilson Asset Management, WAM,

More unintended consequences have been identified should the proposed Division 296 tax policy become part of the superannuation system.

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Documentation

Resolutions can lower dispute severity

Adopting a practice of using resolutions to verify every course of action an SMSF undertakes can effectively mitigate member disputes.

Adopting a practice of using resolutions to verify every course of action an SMSF undertakes can effectively mitigate member disputes.

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Contributions

Date of birth impacts bring-forward NCCs

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

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Insurance, SMSF

Insurance proceeds status changed

A new method to treat insurance proceeds received by a super fund has been unexpectedly included in draft Taxation Ruling 2010/1DC2.

A new method to treat insurance proceeds received by a super fund has been unexpectedly included in draft Taxation Ruling 2010/1DC2.

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SMSF, Superannuation, Tax

Deed not sole trustee duty determinant

SMSF trustees must keep in mind the SIS Act dictates their responsibilities in running a fund go beyond those contained in the trust deed.

SMSF trustees must keep in mind the SIS Act dictates their responsibilities in running a fund go beyond those contained in the trust deed.

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Technology

Cybersecurity alertness recommended

The cyberattacks directed at several public offer funds should provide SMSF trustees with a reminder to employ best-technology security practices.

The cyberattacks directed at several public offer funds should provide SMSF trustees with a reminder to employ best-technology security practices.

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ATO, SMSF, Trusts

Treatment of UPEs could change

The treatment of UPEs as loans from beneficiaries to unit trusts may no longer stand due to a recent full Federal Court decision.

The treatment of UPEs as loans from beneficiaries to unit trusts may no longer stand due to a recent full Federal Court decision.

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Australian Shares, Investments

LICs can be better for income seekers

Listed investment companies have the ability to produce more optimal outcomes for individuals wanting their portfolio to deliver income.

Listed investment companies have the ability to produce more optimal outcomes for individuals wanting their portfolio to deliver income.

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Compliance & Regulation, SMSF

Disqualifications can be overturned

A recent AAT decision has shown a trustee disqualification can be challenged successfully if the right set of circumstances can be established.

A recent AAT decision has shown a trustee disqualification can be challenged successfully if the right set of circumstances can be established.

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Contributions

Tax strategy contribution split unwise

Best practice suggests a contribution reserving strategy should be implemented using two separate transactions even though it is not required legally.

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