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latest on reserving-TD 2013-22

Latest on reserving — TD 2013/22

A new ATO release (TD 2013/22) provides further guidance for contribution reserving. In many ways, it is very similar to its predecessor, ATO ID 2012/16. However, it has some important differences. The facts The facts of TD 2013/22 are very comparable to ATO ID 2012/16, which encouraged the growth of contribution reserving. In TD 2013 [read more]

SMSF Trustee Disqualification

SMSF trustees — disqualified due to dishonest conduct

Many do not realise the extent of the disqualified person provisions in the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA’). This can result in a person inadvertently acting as trustees of self managed superannuation funds (‘SMSF’) while disqualified. Doing so exposes these trustees to significant penalties. We explore some of the nuances of the disqualified [read more]