News : Tax

Administration, Division 296, Tax

Better case for tax-effect accounting

Tax-effect accounting should be more seriously considered to allow a more accurate calculation of a person’s TSB for Division 296 purposes.

Tax-effect accounting should be more seriously considered to allow a more accurate calculation of a person’s TSB for Division 296 purposes.

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Budget, CGT, Contributions, Tax

Contributions to reduce CGT marginalised

The federal budget has reduced the effectiveness of making personal deductible contributions to reduce the amount of CGT payable by an individual.

The federal budget has reduced the effectiveness of making personal deductible contributions to reduce the amount of CGT payable by an individual.

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Division 296, SMSF, Tax

Full impact of Div 296 will be lagged

The full impact of the Division 296 tax will only be observed when SMSFs experience significant capital gains from fund assets.

The full impact of the Division 296 tax will only be observed when SMSFs experience significant capital gains from fund assets.

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Death Benefits, Estate Planning, Tax

Death tax minimisation through strategy

SMSF members can implement certain strategies that can mitigate the effect of the three layers of taxes on death that currently exist.

SMSF members can implement certain strategies that can mitigate the effect of the three layers of taxes on death that currently exist.

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CGT, Compliance & Regulation, Division 296, Legislation, Strategy, Tax

Cost base change right for net gain SMSFs

The decision as to whether to use the Division 296 CGT cost base adjustment should be automatic if an SMSF portfolio is reflecting a net gain.

The decision as to whether to use the Division 296 CGT cost base adjustment should be automatic if an SMSF portfolio is reflecting a net gain.

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Tax, Trusts

Decision on Bendel case made

The long-awaited High Court decision regarding the Commissioner of Taxation’s appeal as to the treatment of UPEs has been announced.

The long-awaited High Court decision regarding the Commissioner of Taxation’s appeal as to the treatment of UPEs has been announced.

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Budget, Death Benefits, Estate Planning, Tax, Trusts

Tax or asset protection choice

SMSF trustees wanting to use a testamentary trust in an estate planning strategy face an unenviable choice given the new tax rules.

SMSF trustees wanting to use a testamentary trust in an estate planning strategy face an unenviable choice given the new tax rules.

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Budget, CGT, Division 296, Investments, Legislation, Tax

Div 296 strategies have more clarity

The 2026 federal budget has inadvertently provided SMSF trustees with a clearer direction as to the management of Division 296 tax liabilities.

The 2026 federal budget has inadvertently provided SMSF trustees with a clearer direction as to the management of Division 296 tax liabilities.

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Compliance & Regulation, Contributions, Tax

Concessional cap breaches are income

Amounts in excess of an individual’s concessional contributions cap will be included in that person’s assessable income for the year.

Amounts in excess of an individual’s concessional contributions cap will be included in that person’s assessable income for the year.

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Compliance & Regulation, Division 296, Legislation, Tax

Div 296 process lacking detail

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear.

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear.

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