History of SMSFs traced back almost a century

History of SMSFs traced back almost a century

While the modern self-managed superannuation fund (SMSF) emerged in October 1999 from the former regime for “excluded” funds (ie funds with fewer than 5 members), the history of SMSFs has been traced back possibly as far as 1915. Freelance journalist Michael Laurence has conducted an “archaeological dig” of Thomson Reuters tax legislation resources to discover […] … Read More

Pt IVA anti-avoidance; CGT discount and non-residents; small business CGT concessions; GST enterprise

Pt IVA anti-avoidance; CGT discount and non-residents; small business CGT concessions; GST enterprise

The May 2013 edition of inTAX magazine features the following tax-related technical articles: The changing face of Pt IVA — Matt Budge, Partner–Corporate Tax, PricewaterhouseCoopers, reflects on how Australia’s approach to tax avoidance has evolved, and discusses whether the proposed changes will affect the way in which clients approach business arrangements. Foreigners don’t vote: the removal of […] … Read More

FBT concession for in-house fringe benefits via salary packaging removed

FBT concession for in-house fringe benefits via salary packaging removed

The Tax Laws Amendment (2012 Measures No 6) Bill 2012 passed the Senate on 25 June 2013 without amendment and effectively awaits Royal Assent. The Bill implements the measure announced in the Mid-Year Economic and Fiscal Outlook 2012-13 to remove the concessional FBT treatment for in-house fringe benefits accessed by way of salary packaging arrangements. The changes […] … Read More