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Watch out for early release of super schemes – Vuong and FCT [2014] AATA 402

This Administrative Appeals Tribunal decision involved a member of a large fund becoming implicated in an early release of superannuation scheme. It is a very interesting insight into how some of these schemes are undertaken. Also, it has some very interesting tips for advisers especially tax agents of how deep they should investigate dubious or [read more]

segregated-bank-accounts-are-now-made-easy-so-why-have-unsegregated-assets

TD 2014/7 — segregated bank accounts are now made easy, so why have unsegregated assets? The simple answer!

The ATO released Taxation Determination 2014/7 (‘TD 2014/7’) on 9 April 2014 entitled ‘Income tax: in what circumstances is a bank account of a complying superannuation fund a segregated current pension asset under section 295-385 of the Income Tax Assessment Act 1997 (Cth) (‘ITAA’)?’. Broadly, TD 2014/7 adopts a much more practical approach to dealing [read more]

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