Articles by Darin Tyson-Chan

Administration, Investments, SMSF

Concept of control defined

SMSF trustee control

The concept of control sought by SMSF trustees has been more specifically clarified by the latest research into the sector.

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Compliance, SMSF, Trusts

Year end not trust payment deadline

SMSF trust distribution payment deadline

Trust distributions payable to SMSFs must be paid as soon as possible after the amount involved has been determined so as to eliminate compliance risk.

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BDBNs, Trusts

Death benefit protection imperative now

BDBN testamentary trust death benefit

The prevalence of legal claims against deceased estates is making death benefit measures such as BDBNs and testamentary trusts more critical for SMSF members.

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Residential Property, SMSF

Airbnb rental is not a business

SMSF business AirBnB

Renting out an SMSF residential investment property using Airbnb does not qualify as a situation where the trustee is running a business.

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Pensions, Retirement

Paperwork key for new year pensions

retirement phase pension paperwork

Documentation noting the situation of an SMSF member can allow a pension to be started on 1 July without knowing all of the fund’s asset values.

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ATO, Compliance, SMSF, Tax

Tax agent banning decision upheld

Tax practitioners board ban

The AAT has upheld the Tax Practitioners Board’s decision to terminate the tax agent registration of a Victorian tax agent as a result of deliberate misleading conduct.

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ATO, Contributions, SMSF, Superannuation

ATO error denying deductions

Personal superannuation contributions deductions

Some SMSF members are incorrectly being denied the ability to claim a tax deduction for personal contributions due to an ATO procedural error.

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Insurance

SMSF insurance costs deductible

SMSF insurance premiums deductibility

Proportionately taxed income of an SMSF has no effect on the deductibility of insurance premiums for risk cover held inside the fund.

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financial advice, Financial Planning

QAR receives subdued response

Quality Advice Review government response

The inherent flaws in the government’s approach to implementing the recommendations of the Quality of Advice Review have been called out.

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Superannuation

Govt payments crucial to early access

Superannuation early access

Certain conditions regarding social security must be met before individuals can access their super benefits early due to severe financial hardship.

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