A new Federal Court case underscores the continuing relevance of pecuniary penalties under the civil penalties regime to the ATO’s enforcement toolkit. Facts of the case The facts in Deputy Commissioner of Taxation (Superannuation) v Ryan [2015] FCA 1037 (‘Ryan’) involve a husband and wife, Mr Joseph Ryan and Mrs Carolyn Ryan, who were the [read more]
A recent decision Re Trustee for the Payne Superannuation Fund and FCT [2015] AATA 58 examines how the ATO are examining whether SMSFs are appropriately carrying forward tax losses and apportioning expenses when they are partly in pension mode. Prior to analysing the implications of this decision, we will first examine a general overview of [read more]
Munro v Munro [2015] QSC 61 is the latest case involving a binding death benefit nomination (‘BDBN’) that was held not to be binding. This case is a very important decision as it confirms that BDBNs for self managed superannuation funds (‘SMSF’) can last indefinitely. The facts Mr Barrie Munro practised as a solicitor during [read more]
In late 2013, the WA Supreme Court handed the decision of Ioppolo v Conti [2013] WASC 389. It contained many important implications for SMSF advisers. The decision was appealed and on Tuesday the WA Court of Appeal handed down the outcome of the appeal in Ioppolo v Conti [2015] WASCA 45. This article discusses some [read more]
The recent decision of Deputy Commissioner of Taxation v Lyons [2014] FCA 1353 provides various insights for self managed superannuation fund trustees, as explained in this article. Facts of decision On 6 June 2008, the Lyons Family Superannuation Fund (‘Fund’) was registered as a self managed superannuation fund. At all relevant times, Mr Lyons and [read more]
