Tech Know - Recent ATO rulings of importance for SMSFs

Podcast & PDF

Information for advice professionals only.

Today’s podcast focuses on the ATO Law Companion Ruling on the Non-arm’s length income – expenditure incurred under a non-arm’s length arrangement and the ATO draft consolidation outlining proposed changes to Tax Ruling 2010/1 that explain the interactions between non-arm’s length income provisions and the rule around superannuation contributions. 

Listen to the podcast below or download the technical podcast 30/​07/​21 transcript.

You can also access this podcast via Soundcloud.

With the resumption of Parliament, the “Better Advice” Bill has continued its progression through Parliament to give effect to the wind up of FASEA at the end of 2021. In this week, we look at the outcome from a Senate Committee review of the Bill, as well as the commencement of a consultation on supporting regulations.
Today’s podcast focus on three announcements made in the last seven days, from information sharing protocols that will apply when hiring a new adviser, through to a proposed compensation scheme of last resort where valid claims for poor advice remain unpaid, and finally a consultation process on the long discussed retirement income covenant for all superannuation funds.
Podcast & PDF

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