trustees

Could trust splitting soon result in increased tax obligations?

  A draft taxation determination released in July has triggered some alarm among practitioners that certain previously benign trust re-arrangements may soon lead to new tax obligations being attached. TD 2018/D3 posits that certain trust split arrangements should be viewed as the creation of a new trust over some, but not all, of the assets

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Some ATO forms that SMSF trustees may need

SMSF trustees may find that occasionally a particular form is needed to be able to complete an administrative task for the ATO. SMSFs: Here’s a complete list of tax office forms you’ll need Rather than have you searching the vast labyrinth of the ATO’s website for SMSF forms, we thought it helpful to list some

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Large assets in an SMSF? Scaling back pensions should not pose a problem

Amid the reports of SMSF trustees selling real estate in droves, it may be worthwhile for tax and superannuation professionals to step back, identify clients most likely needing to scale back their pensions, and see the best methods that may be suited to particular client’s circumstances. One issue of concern that keeps being raised time

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Second tranche of super changes caps pension transfer balance

The government’s release of the second tranche of proposed superannuation changes, which covers concessional contributions, catch-up concessional contributions and removing the earnings tax exemption for transition to retirement income streams, also proposes introducing a general pension transfer balance cap. This will limit the amount of super a member can transfer to pension phase and enjoy

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