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Discretion to disregard unlawful super payments
21/09/2011
Where a benefit is paid to a super fund member who has not satisfied a relevant release condition what happens?ATO & APRA release super statistics
21/09/2011
The ATO statistics show that the SMSF sector has continued to grow with 33,106 new funds being established during financial year 2010/11 while less than 500 were wound up during that year.Trustees Must Stay in Control of their Trust Deed
15/08/2011
A newsletter debate seems to have sprung up regarding automatic trust deed updating services. The key issue being debated is simple: should a trustee give up control of their trust deed? The answer to this question is no.The Draft Pension Ruling: The mouse that roared?
15/08/2011
This Draft Ruling has had a long gestation. Its release has been delayed a number of times.Reversion of a Pension to Taxable Phase
15/08/2011
The ATO has taken the view that the super interest supporting the pension will cease to be in exempt phase when the member who is receiving the pension dies. The super interest will then revert to taxable phase. This is not a new or novel position. The ATO has previously indicated this view. This is one reason why pensions are often established as reversionary pensions (sometimes called auto reversionary pensions).