News : Tax

NALI/NALE, Tax

NALI-CGT determination provides clarity

NALI CGT determination

A recently issued tax determination has clarified the treatment of capital gains where non-arm’s-length transactions are conducted and offers practical outcomes for SMSFs.

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Regulation, SMSF, Tax

Imputation system changes bad for SMSFs

Franking credits

The proposed changes to the franking credits regime could have a significant impact on trustees who rely on the credits to benefit from lower taxation rates offered by their SMSFs.

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NALI/NALE, Tax

Clarity sought on NALI/CGT ruling

SMSFA NALI CGT

The SMSF Association has called on the ATO to clarify the draft ruling on the interaction between NALI and the CGT regime.

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ATO, NALI/NALE, Tax

ATO releases draft NALI, CGT determination

NALI CGT determination

The ATO has released a draft determination on how it will measure NALI inside capital gains that result from non-arm’s-length dealings.

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SMSF, Superannuation, Tax

Trustees exploring options ahead of $3m cap

Super tax

SMSF trustees are searching for alternative strategies outside of superannuation to mitigate the tax implications of the proposed $3 million super earnings tax.

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Superannuation, Tax

Indexation measure a Div 293 issue

indexation division 293

Indexation of the quarterly maximum super contribution base might trigger a Division 293 tax issue for employees on high salaries.

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Superannuation, Tax

New 30 per cent tax not accurate

30 per cent tax

Practitioners and SMSF trustees alike should not be under the impression the proposed new superannuation tax is just a 30 per cent impost.

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Regulation, SMSF, Tax

Changes to super will not end

superannuation changes

The size of assets held within superannuation means governments are likely to make ongoing changes such as the proposed $3 million tax.

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Superannuation, Tax

$3m soft cap effect significant

$3 million tax impact

Advisers are expecting the proposed tax to be applied to people with a total super balance over $3 million will affect one-third of their SMSF clients.

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ATO, Compliance, Tax

New SMSFs targeted for non-lodgement

SMSFs annual returns

New SMSFs are failing to lodge annual returns and abide by their taxation obligations, drawing the attention of the ATO.

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