Articles by Darin Tyson-Chan

ATO

ATO confirms TBC info availability

June 17, 2021

The date when individuals can begin to access their personal transfer balance cap information after the application of indexation has been confirmed.

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ECPI, Superannuation

Confusion over DSFA trigger

June 16, 2021

Darin Tyson-Chan

The criteria used to determine whether an SMSF has disregarded small fund assets for exempt current income purposes is still unclear among some advisers.

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Compliance, Documentation

Director ID presents an SMSF challenge

June 16, 2021

Darin Tyson-Chan

Directors of SMSF corporate trustees may find difficulties in the application procedure for the director identification number they will need to hold.

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NALI/NALE

NALI capital gain treatment unclear

June 15, 2021

Darin Tyson-Chan

The tax treatment of the capital gain associated with an SMSF asset that has been tainted by NALI for only part of its fund life remains unknown.

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ATO, Technology

Super Fund Lookup error surfaces

June 10, 2021

Darin Tyson-Chan

A malfunction of the ATO’s Super Fund Lookup register has resulted in some SMSFs erroneously losing their complying status on the system.

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LRBA

No TBAR obligations from LRBAs

June 10, 2021

Darin Tyson-Chan

Transactions arising from limited recourse borrowing arrangements are unlikely to trigger a transfer balance account reporting event.

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Compliance, Superannuation

New trustee duty muddies compliance

June 9, 2021

Darin Tyson-Chan

The trustees duty amendment to the Your Future, Your Super will make SMSF compliance more difficult with investments in certain conventional asset classes.

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Cryptocurrency

Cryptocurrency still an investment only

June 9, 2021

Darin Tyson-Chan

Cryptocurrency is still classified only as an investment, and not a currency, for superannuation purposes limiting it use within those funds.

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Compliance, Documentation

Trust deeds are extension of the law

June 8, 2021

Darin Tyson-Chan

The SMSF trust deed must be seen by trustees and their advisers as an extension of superannuation law and adhered to at all times.

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Contributions, Superannuation

Budget to amplify contribution errors

June 7, 2021

Darin Tyson-Chan

The government’s decision to remove the work test will have significant implications for contribution errors made subsequent to the measure’s introduction.

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