Articles by Darin Tyson-Chan

NALI/NALE

NALE bill lag creates huge risk

NALE non-arm's length expenses PCG 2020/5

SMSF trustees cannot rely on PCG 2020/5 from 1 July 2023 to avoid a severe tax penalty should they incur non-arm’s-length general expenses.

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Business news, Investments

Investor bodies eye amalgamation

Australian Shareholders Association, Australian Investors Association, Merger

The Australian Shareholders’ Association and the Australian Investors’ Association have entered amalgamation talks to form one body by 2024.

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Legislation, SMSF, Tax

Liquidity risk of new tax quantified

SMSF Association Superannuation earnings tax liquidity

New SMSF Association-commissioned research has indicated the tax on super balances over $3 million will result in liquidity risk.

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Administration, Strategy, Superannuation, Tax

Deductibility of deed changes not uniform

Tax deductibility Trust deed amendment legal expenses

Determining whether legal fees arising from a trust deed amendment are tax deductible will hinge on the nature of the expenses in question.

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ATO, NALI/NALE

Tax determination troublesome for SMSFs

ATO tax determination SMSF NALI CGT

The ATO taxation determination outlining how the NALI and CGT rules interact is potentially problematic for SMSFs.

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ATO, Compliance & Regulation, Strategy

Voluntary disclosure scheme not speedy

ATO voluntary disclosure scheme

Patience and persistence are required when looking to use the ATO’s early engagement and voluntary disclosure scheme to secure a satisfactory outcome.

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LRBA, Property

Investment properties come with issues

SMSF investment property LRBA

Choosing to hold an investment property in an SMSF can have significant adverse consequences that trustees should consider before doing so.

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ATO, NALI/NALE

Hint of NALE enforcement given

ATO NALE private binding ruling

Two private binding rulings issued by the ATO in the past six months have hinted at how the NALE rules for general expenses will be applied.

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SMSF, SMSFA, Tax

More sectors discuss soft cap issues

$3 million soft cap SMSF Association

The SMSF Association is engaging other industry bodies to help its campaign to have the government change the calculation method for the $3 million soft cap.

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Private Assets, SMSF, Strategy

Segregation for single assets barred

Single asset segregation SMSF

A single asset cannot be treated in a manner that allows it to support some SMSF members in accumulation phase and others with a pension account.

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