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Sladen Snippet: Division 7A and COVID-19: ATO announces streamlined process to kick the can down the road

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Sladen Snippet: Division 7A and COVID-19: ATO announces streamlined process to kick the can down the road

On 26 June 2020, the Australian Taxation Office (ATO) announced a streamlined process for COVID-19 affected borrowers to make applications under section 109RD to extend the time to make minimum yearly repayments (normally required to be made by 30 June 2020) under Division 7A.

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Sladen Snippet - ATO rules that super benefit called before, but paid after, death is a member benefit

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Sladen Snippet - ATO rules that super benefit called before, but paid after, death is a member benefit

If a member calls for a super benefit before they die but pass away before it is paid, when it is subsequently paid to the deceased member’s account, is the payment a (tax free) member benefit or a (taxable) death benefit?

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Sladen snippet - Certain JobKeeper payments don’t trigger superannuation guarantee – regulations made

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Sladen snippet - Certain JobKeeper payments don’t trigger superannuation guarantee – regulations made

As part of the broader framework of the JobKeeper scheme (discussed here) established by the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020, the Superannuation Guarantee (Administration) Amendment (Jobkeeper Payment) Regulations 2020 (Amending Regulations) have now been made.