News : AAT

AAT, ART

New tribunal operation revealed

Administrative Appeals Tribunal AAT Administrative Review Tribunal

The Administrative Appeals Tribunal transition process to the Administrative Review Tribunal has now been unveiled to the industry.

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AAT, Contributions, Tax

AAT rules unused super caps must apply

AAT Administrative Appeals Tribunal ATO Unused concessional contributions Carry-forward concessional contributions WTBW and Commissioner of Taxation [2024] Income Tax Assessment Act 1997 Division 293 tax

The AAT has upheld the ATO’s rejection of a taxpayer’s claim they can choose whether to apply the unused concessional contributions cap carried forward from previous years.

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AAT

AAT decision will create precedent

Administrative Appeals Tribunal AAT ATO decision impact statement SMSF trustee banning Gordon Merchant Merchant and Commissioner of Taxation Coronica and Commissioner of Taxation Sladen Legal Phil Broderick Terence Wong

An AAT decision to overturn the banning of an SMSF trustee for a one-off mistake is likely to be referred to in other cases, despite the ATO downplaying the outcome.

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AAT, ATO, Regulation, SMSF

AAT rejects trustee disqualification appeal

Administrative Appeals Tribunal AAT ATO SMSF Self-managed superannuation fund Disqualification SIS Act Coronica and Commissioner of Taxation [2024] Superannuation Industry (Supervision) (SIS) Act

A banned SMSF trustee has failed to have his disqualification overturned, with the AAT stating the breaches he committed were too numerous and serious to disregard.

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AAT, Compliance, Regulation, SMSF

Case alters financial assistance view

Superannuation (Industry) Supervision (SIS) Act. AAT Merchant vs Commissioner [2024] ATO SMSF Self-managed superannuation Financial assistance Section 65

An SMSF may be at risk of breaching the SIS Act if it provides financial assistance to related parties, even when conducting seemingly standard transactions.

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AAT, Compliance, Investments, SMSF

Strategy must match investment actions

SMSF Investment strategy SIS Act Merchant v Commissioner of Taxation [2024] Administrative Appeals Tribunal DBA Lawyers Shaun Backhaus

SMSF trustees cannot only articulate an investment strategy, but must give effect to it each year to be compliant with their obligations under superannuation law.

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AAT, ATO, Compliance, Legislation, Regulation

Disqualification overturned despite breaches

AAT ATO Trustee disqualification SMSF Gordon Merchant

The AAT has overturned the disqualification as trustee of the founder of Billabong despite several breaches of superannuation laws.

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AAT, ATO, Compliance, NALI/NALE, SMSF

CAANZ calls for NALI clarity

NALI AAT ATO BPFN and Commissioner

It has been recommended the ATO update its non-arm’s length income guidance after one of its rulings was overturned by the AAT last year.

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AAT, ATO, LRBA, SMSF

SMSF lending ruling not a model to adopt

SMSF AAT ATO Private lending NALI non-arm’s length income BPFN

The ATO has warned an Administrative Appeals Tribunal ruling regarding private lending in an SMSF should not be taken as a model to apply to other arrangements.

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