In this article, we consider the implications for SMSFs of the recent Federal Court of Australia (Full Court) decision in Commissioner of Taxation v Bendel [2025] FCAFC 15 (Bendel). In particular, we consider Bendel’s impact for SMSFs with investments in pre-1999 unit trusts. This article contains many generalisations and simplifications. For the full text of [read more]
As a lawyer, I do a lot of work advising and representing approved SMSF auditors who are being audited/reviewed by the ATO and/or who have been referred to ASIC. Accordingly, I’m often very interested in the ‘business’ of being an approved SMSF auditor. Earlier this month, the ATO released data regarding titled ‘Self-managed super funds: [read more]
As a lawyer, I do a substantial amount of work advising and representing approved SMSF auditors who are being audited/reviewed by the ATO and/or who have been referred to ASIC. Accordingly, I was interested to see an article in selfmanagedsuper quoting ATO Acting Deputy Commissioner Paul Delahunty as follows (https://smsmagazine.com.au/news/2025/01/20/proof-of-transaction-terms-a-concern/): Section 109 [of the SIS Act] [read more]
This is part 10 of our series of ‘employee versus contractor’ articles. Part 10 focuses on recently updated guidance from the ATO regarding 12 common myths that result in engaging entities incorrectly classifying an employee as a contractor or vice versa. The webpage (QC 33185) can be found here. The other articles (parts 1-9) are linked [read more]
In the matter of Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 where a prior self managed superannuation fund (SMSF) trustee had failed to transfer title to a new trustee, a court order (more accurately speaking, ‘judicial advice’) was required to sell an asset to transfer the proceeds to [read more]
Yesterday, Treasury released exposure draft regulations to allow people to exit certain legacy pensions. This expands on and supports implementation of the 2021–22 Budget measure to allow exiting certain legacy retirement products. For some this will be highly welcome news! In the next SMSF Online Update, Bryce Figot will unpack these regulations in detail, discussing: [read more]
As a lawyer, I do a substantial amount of work advising and representing approved SMSF auditors who are being audited/reviewed by the ATO and/or who have been referred to ASIC. Accordingly, I paid considerable attention to certain new statistics that the ATO released recently regarding ‘SMSF auditor case outcomes 2023–24. ATO referrals to ASIC are [read more]
Non-arm’s length income (NALI) applies a 45% tax to both ordinary and statutory income of a superannuation fund. A net capital gain is statutory income. However, how does NALI interact with the capital gains tax (CGT) provisions? The ATO has recently released Tax Determination (TD) 2024/5 to outline its current view on the interaction between [read more]
Introduction This case note was prepared shortly after the Katz v Grossman decision was handed down in late 2005 and I have updated this newsfeed as it remains relevant today and is a great ‘war story’ for advisers. Indeed, there has been a great number of cases that have since added to our understanding in [read more]
In light of recent changes to the professional and ethical obligations on tax practitioners, it is important for clients and advisers to consider who to seek guidance from. This article discusses certain advantages of engaging a lawyer for advice or assistance. Background The Tax Agent Services Act 2009 (Cth) (TASA) includes reporting provisions that require [read more]
