Articles by Darin Tyson-Chan

SMSF, Superannuation, Tax

Start-ups to suffer under Div 296

Division 296 tax, Geoff Wilson, Wilson Asset Management, SMSF, self managed super, self managed superannuation, unrealised capital gains, start-up enterprise, start-ups, sequencing risk,

Superannuant reaction to the Division 296 tax introduction will have a profound effect on start-up enterprises in the immediate future.

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ATO, Education, NALI/NALE

TR 2010/1DC2 delivers double blow

Draft tax ruling TR 2010/1DC2, contribution rules, non-arm’s length expenditure, NALE, Accurium, Anthony Cullen, concessional contribution, GYBW, SMSF, self managed super, self managed superannuation

The latest draft tax ruling 2010/1DC2 has seen the ATO change its approach to the value of an asset has shifted due to a non-commercial arrangement.

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ATO, Superannuation

ATO counters false super rule changes

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

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Legislation, SMSF, Superannuation

Fixing CSLR priority number one

CSLR, Financial Advice Association Australia, FAAA, Compensation Scheme of Last Resort, Sarah Abood, sector cap, Dixon Advisory, United Global Capital, CSLR levy, financial advisers, Shield Master Fund, First Guardian

Amending the CSLR has been identified as the most important financial advice-related issue the Labor government must address when parliament restarts.

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NALI/NALE, SMSF, Tax

Service discount sway a NALE issue

Accurium, discounted services, employees, general expenses, NALE, Natalie Scott, non-arm's length expenditure, self-managed super, self-managed superannuation, SMSF, SMSF trustees, superannuation

Certain situations exist where a service discount granted to an SMSF will initiate the NALE rules even if the reduced price is available for all staff.

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Contributions, Downsizer, SMSF

Marriage length has no downsizer impact

The ability for a spouse to take advantage of the downsizer provisions is not dependent on how long the couple in question have been married.

The ability for a spouse to take advantage of the downsizer provisions is not dependent on how long the couple in question have been married.

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Legislation, Tax

Div 296 conversations need to resume

Division 296 tax, SMSF, SMSF Alliance, David Busoli, Senate, $3 million, total super balance

The result of the weekend’s federal election means practitioners should be preparing for renewed client conversations about the Division 296 tax.

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ATO

No ATO discretion for illegal drawdowns

Illegal early access, ATO, ASF Audits, Shelley Banton, tax, Practice Statement Law Administration, PSLA,

The ATO’s treatment of illegal SMSF withdrawals trustees have attempted to pay back has not changed, regardless of PSLA 2021/D3’s status.

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Retirement, SMSF, Superannuation

TRIS impact on TBC a common trap

TRIS, transfer balance cap, TBC, Accurium, Natalie Scott,

Practitioners must take note of situations where clients with a TRIS turn 65 before 30 June as the event will impact the member’s transfer balance cap.

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