Does a SMSF that holds only life insurance satisfy the sole purpose test?
Does a SMSF that holds only life insurance satisfy the sole purpose test? It depends.
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Minority SMSF investors and related unit trusts
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More by The Tax Objection
Is there a time limit for putting in a tax objection?
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Why setting up offshore companies for Australians is a tricky business
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Perils lodging a really late objection against a tax assessment
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Alternative Dispute Resolution (ADR) options
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Tax residence – is it administrable after Pike?
Recent comments
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Tax residence – is it administrable after Pike?
In the recent case of Pike v Commissioner of Taxation [2019] FCA 2185 Federal Court judge Logan J. noted: This is the third in a succession of taxation appeals in the original jurisdiction entailing a taxation residence issue, the others being Stockton v Commissioner of Taxation [2019] FCA 1679 (Stockton) and Addy v Commissioner of […]
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Closely held trusts, “family trusts” and circular trust distributions – a tax net nuanced again for the compliance burden
A family trust that is a closely held trust (which will often be the case) must now comply with the closely held trust obligations but a family trust remains relieved from the obligation to file TB statements and pay trustee beneficiary non-disclosure tax on omission to file a TB statement. Despite that a family trust […]
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Income from private company investments – the tax scourge of SMSFs
SMSF investment in a private company carries the suspicion that the investment is an opportunity to shift income from a higher taxed entity to the concessionally taxed SMSF.
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Changing the trustee of a trust – some elements for success
It is sometimes wrongly assumed that a minute of the current trustee is sufficient to change the trustee of: a family discretionary trust (FDT); ora self managed superannuation fund (SMSF) (which must be a trust with a trustee too – see sub-section 19(2) of the Superannuation Industry (Superannuation) Act (C’th) 1993 (SIS Act)); and that […]
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Taking out tax when superannuation death benefits are paid to deceased estates and testamentary trusts
Who pays tax and how much when a superannuation fund pays out death benefits to a deceased estate or to a testamentary trust is not intuitive. The two technical concepts of “dependant” and “taxable component” in particular are a source of confusion. Dependant There are two relevant kinds of dependant. The SIS Act kind of […]
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Does a SMSF that holds only life insurance satisfy the sole purpose test?
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Tax residence – is it administrable after Pike?
-
Closely held trusts, “family trusts” and circular trust distributions – a tax net nuanced again for the compliance burden
-
Income from private company investments – the tax scourge of SMSFs
-
Changing the trustee of a trust – some elements for success
-
Taking out tax when superannuation death benefits are paid to deceased estates and testamentary trusts