Lots of Recent Changes

Tony Negline

Over the last while I've been working on a revised version of my book (which I hope to release soon). The last five months since the last update was released was probably a fairly quiet time. The reality is that there have been at least 20 issues which impact Self Managed Super Funds:

a. Federal Court Case - Commissioner of Taxation v Interhealth Energies Pty Ltd as Trustee of the Interhealth Superannuation Fund [2012] FCA 120

b. Administrative Appeals Tribunal (AAT) cases:

i. Bruce Mason v Commissioner of Taxation

ii. R Ali Super Fund v Commissioner of Taxation

c. Draft Tax Ruling 2011/D3 - When a superannuation income stream commences or ceases - which will hopefully be released in its final form soon

d. Excess Contributions Tax - treatment of small inadvertent breaches of the non-concessional contributions cap

e. ATO ID 2012/16 - Superannuation Excess Contributions Tax: concessional contributions - allocation of contributions (the use of "unallocated contributions accounts"

f. Mid-Year Economic and Fiscal Outcome - 5 new policies were announced

g. New APRA super fund and ATO SMSF statistics

h. ATO SMSF Ruling - Limited recourse borrowing arrangements - application of key concepts - hopefully the final version will be released soon

i. APRA Payment Standards for regulated superannuation funds and approved deposit funds - Prudential Practice Guide SPG 280 - final version was released

j. Costello Working Group on Cooper Review recommendations - what has been the progress with the recommendations the Government accepted

k. Income Tax Assessment Amendment Regulations 2011 No. 5 and Draft Tax Ruling TR 2011/D6 - both involving tax deductibility of TPD insurance premiums

l. Tax laws Amendment (2011 Measures No. 9) Act 2012 - changes the definition of SMSFs and allows, in limited circumstances SMSF trustees to receive remuneration

m. Federal Budget 2012 - At least four changes announced

My book will also contain quite a bit of new content that I'll reveal in the next few weeks.

Version 6.0 of my SMSF book is now available.

You can see all the changes that have been made between Version 5.1 and 6.0 (the latest edition).

You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne

For details of the changes made from version 5 to version 6 visit: http://www.atcbiz.com.au/r.php?r=d5xcpch

As you'll see from the list there have been many changes.

Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb

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