SMSFs

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Sladen Snippet – Corbisieri – BDBN invalid due to relationship breakdown

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Sladen Snippet – Corbisieri – BDBN invalid due to relationship breakdown

The case of Corbisieri v NM Superannuation Proprietary Limited [2023] FCA 1319  involved an appeal by the mother of a deceased against the decision of the Australian Financial Complaints Authority (AFCA) to uphold a BDBN to benefit the de facto spouse of her late son, which was to be funded out of life insurance proceeds in AMP Superannuation.

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Sladen Snippet – ATO warns on SMSF gift and loan back (asset protection) arrangements

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Sladen Snippet – ATO warns on SMSF gift and loan back (asset protection) arrangements

In an interesting development, the ATO has released a warning in relation to SMSFs entering into gift and loan back arrangements.

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Sladen Snippet – SMSF BDBNs not bound by SIS Regs – Hill v Zuda

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Sladen Snippet – SMSF BDBNs not bound by SIS Regs – Hill v Zuda

In the much anticipated decision of Hill v Zuda Pty Ltd, the High Court has determined that regulation 6.17A of the Superannuation Industry (Supervision) Regulations 1994 (SIS Regs) does not apply to binding death benefit nominations (BDBNs) prepared for self managed superannuation funds (SMSFs).

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The NALI/NALE Whirlwind – Where Are We At?

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The NALI/NALE Whirlwind – Where Are We At?

Non-arm’s length income (NALI) has been a hot topic of discussion and debate in the SMSF industry in recent years, in particular since the ATO first released their draft ruling on non-arm’s length expenditure (NALE) in 2018 (and its subsequent iterations).

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Sladen Snippet - Retirement income covenant will not apply to SMSFs

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Sladen Snippet - Retirement income covenant will not apply to SMSFs

On 27 September 2021 the government released exposure draft legislation to introduce a retirement income covenant (Draft Bill).

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The ATO’S Current Views on Conducting Property Development through an SMSF (Copy)

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The ATO’S Current Views on Conducting Property Development through an SMSF (Copy)

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

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Complicated SMSF investment structures and avoiding the NALI minefield (Copy)

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Complicated SMSF investment structures and avoiding the NALI minefield (Copy)

Key learnings from ATO Determinations

The non-arm’s income rules, or NALI, have been around for decades. Despite that, historically, they have been rarely invoked by the ATO and largely ignored by many advisors and trustees.