Trusts’ compliance with anti-avoidance rules reviewed The ATO has announced that it is reviewing selected trusts’ compliance with sections 100AA and 100AB of the ITAA 1936. These anti-avoidance rules are designed to prevent trustees using tax-exempt entities to shelter the trust’s net income. Specifically, it is looking at situations where a tax exempt entity is […]
June 2014 Super Update from the ATO
June 2014 Super Update from the ATO On 12 March 2014, new privacy laws came into effect and mainly relate to what we do when we collect personal information. These amendments affect how we collect, store, provide access to and disclose personal information. This includes information that is provided to us from third parties including […]
The importance of BDBNs
The importance of BDBNs Editor: A member of a superannuation fund may generally make a ‘BDBN’ which, if valid, requires the trustee of the fund to pay out their death benefits (i.e., after they die) exactly as set out in the BDBN. In the first case, a member of an SMSF expressed a desire in […]
