The Australian Taxation Office (ATO) has formally announced that they will be streamlining transfer balance account reporting (TBAR) for self-managed super funds (SMSFs) from 1 July 2023. This follows consultation with the community, industry, and tax professionals on streamlining the lodgement of transfer balance account event-based reporting for all SMSFs. As a result of the…
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The recent unanimous decision by the High Court in Hill v Zuda [2022] HCA 21 confirmed that regulation 6.17A of the SIS Regulations 1994 does not apply to SMSFs. In this webinar conducted by Smarter SMSF on 28 June 2022, Aaron Dunn is joined by Chris Hill, lawyer and founder of Inherit Australia discuss…
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The Australian Taxation Office (ATO) has announced that it has updated Practical Compliance Guidance, PCG 2020/5 – Applying the non-arm’s length income provisions to ‘non arm’s length expenditure’ to extend their compliance approach by another 12 months to 30 June 2023. Prior to the Federal Election we saw the Senator Jane Hume announce that the…
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With an increase in interest rates in Australia by the Reserve Bank, this also has an impact on rates that are required to be charged under a limited recourse borrowing arrangements (LRBA). The impact of these rate changes is significantly important for SMSFs that comply with the safe harbour terms outlined in PCG 2016/5 –…
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Aaron Dunn explored the benefits of the Smarter SMSF trust deed. The session will explore: How decision making operates within the deed and constitution Why the deed allows you to create Special Rules of the Fund Why it is important to regularly manage and update the fund’s governing rules The impact of the 1 July…
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