Issue: 263
Sent: 10-05-2011 10:43:04
In this issue:

Balance Sheets are HistoryA How To Book Of Self Managed Super FundsEmployee Termination Documentation
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Employee Termination Documentation

Click here to buy - A How To Book of SMSF's by Tony Negline
Tony Negline

It is possible to rollover the taxable portion of an employer redundancy benefit if there was a written agreement between the employer and employee before 10 May 2006.

The ability to rollover these benefits will cease after June 2012.

In late April the Administrative Appeals Tribunal found in favour of a taxpayer. The case, Perfrement and Commissioner of Taxation [2011] AATA 264 delves into the murky issue when a written agreement between employer and employee actually exists.

This case arose because the ATO refused to issue a Private Binding Ruling in favour of the taxpayer.

This is not the most exciting case in the world but it goes some way to explain the difficulty about providing suitable documentary evidence that there was an agreement between the employer and employee.

In this situation the employer had amended the terms of employment several times since the early 1990s and in July 2008 said that any redundancy benefit could not be rolled over to a super fund.

On another note if there is anything of interest in tonight's budget we'll produce a special edition of this email service.

Finally please consider purchasing a copy of "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link:

The 5th edition has just been released.

For details of the changes made from version 4 to version 5 visit:

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:

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