News : Tax

Tax

CGT relief limited in SMSF split

capital gains tax, CGT, DBA Lawyers, William Fettes,

Only one partner in an SMSF will be able to access CGT relief if they move an asset to another fund during a separation, raising the need for carefully structured arrangements.

read more
SMSF, Tax

Rule out all unrealised gains taxes

A coalition of leading industry associations recommended the government scrap taxing unrealised investment gains before it expanded across the entire tax system.

A coalition of industry associations has called for a clear commitment that the next government will scrap the taxation of unrealised investment gains before it expands across the entire tax system.

read more
ATO, Tax

Acting on Bendel case unwise

Unpaid present entitlement, UPE, Bendel, Shelley Banton, ATO, auditor,

SMSF trustees have been told to resist acting on a recent court decision with regard to an unpaid present entitlement from a unit trust.

read more
Contributions, SMSF, Tax

Reserving useful to stymie Div 293

SMSF members facing a Division 293 tax bill should consider a contribution reserving strategy as a method to offset the additional impost.

read more
Contributions, Superannuation, Tax

Tax impact of withdrawals nuanced

Sound knowledge of the rules regarding super fund drawdowns is a must to determine the level of tax deduction available for a personal contribution.

read more
Superannuation, Tax

Div 296 lapse shows sector strength

SMSF Association, Division 296, ATO, Legacy pensions, Centrelink, SMSF, Centrelink, Treasury, election,

The failure of the Division 296 tax bill to pass through parliament highlights the work done by the SMSF sector to raise awareness about problems with its structure.

read more
ATO, Legislation, SMSF, Superannuation, Tax, Trusts

Avoid state trustees in estate plans

Cooper Grace Ward, Sarah Camm, Gainer, Clinton Jackson, Annual Adviser Conference, Brisbane, ATO,

State or public trustees should be avoided as a back-up plan in SMSF estate plans as they often don’t want the job and assigning it to them could breach superannuation laws.

read more
Legislation, Tax

Up in the air

The fate of the Division 296 tax is facing different challenges and scenarios in the face of the upcoming federal election.

The fate of the Division 296 tax is facing different challenges and scenarios in the face of the upcoming federal election.

read more
SMSF, SMSFA, Tax

Budget confirms Div 296 still on the table

The federal government will take the Division 296 tax to the election given the budget contained no mention of the status of the proposed impost.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.