In the recent decision of JMC Pty Limited v Commissioner of Taxation [2022] FCA 750, the Federal Court found that an ‘independent contractor’ was an employee for super guarantee purposes.
Lecturer found to be employee for super guarantee purposes
Sladen Snippet – new superannuation measures effective 1 July 2022
The Latest developments with NALI and NALE Podcast
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).
Sladen Snippet – ATO confirms NALE practical administration approach is extended to 30 June 2023
The ATO has confirmed that its current administrative approach to the non-arm’s length expenditure (NALE), as set out in Practical Compliance Guide PCG 2020/5, will be extended to 30 June 2023.
The NALI/NALE Whirlwind – Where Are We At?
Digital Assets – All The Rage But Maybe A House Of Pain (Part 1)
SMSFS And Property Development: Key Compliance Imperatives
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.
Sladen Snippet - Key changes to super guarantee rates and thresholds from 1 July 2022
As discussed here, one of the key superannuation announcements in the May 2021 budget was the removal of the minimum $450 threshold for super guarantee purposes.
Sladen Snippet - you haven’t made super contributions on time – now what?
Super contributions payable to contractor plumber - a call for action for businesses
In the recent Australian Administrative Tribunal (AAT) decision of Trustee for Virdis Family Trust t/a Rickard Heating Pty Ltd v FC of T [2022] AATA 3, the AAT relied on the decision in Dental Corporation Pty Ltd v Moffet [2020] FCAFC 118 (Moffet) to find that a plumber who was engaged as a contractor was an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992 (SG Act).
Tribunal upholds penalties for an SMSF’s breach of the borrowing restrictions
In the recent decision of FYYB v FC of T 2021 ATC 10-592; [2021] AATA 3567, 5 October 2021, the Australian Administrative Tribunal (AAT) affirmed the Commissioner of Taxation’s (Commissioner) decision to disallow an objection by the taxpayer to an administrative penalty of $7,500 imposed on a self managed superannuation fund (Fund) under the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act).
Multiple Party Investment Structures – Part 2: Superannuation (SMSF) Issues
Sladen Snippet - Legislation released for welcome superannuation changes
As previously discussed here, the May 2021 budget announcements included a number of changes aimed at increasing flexibility in the superannuation system. Some of these key changes have now been introduced to Parliament as part of the Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 (Bill).
Super Guarantee – No Longer The Toothless Tiger
Sladen Snippet - Retirement income covenant will not apply to SMSFs
Penalty relief for employer super guarantee mistakes in the stapled default super fund regime
As part of the broader ‘Your Future, Your Super’ reforms, the concept of default ‘stapled super funds’ for employees will take effect from 1 November 2021. Where employees start work on or after 1 November 2021, and do not choose a super fund, most employers will have to check with the ATO if their employee has an account with an existing super fund, known as a ‘stapled super fund’, to pay the employee’s super guarantee into.
Managing rental properties found to be a business (and business real property?)
In the recent decision of Allen and Commissioner of Taxation (Taxation) [2021] AATA 2768 (6 August 2021), the Australian Administrative Tribunal (the Tribunal) overturned a private ruling of the Commissioner of Taxation (Commissioner) and found that an individual taxpayer was personally carrying on a business of managing rental properties.
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.
