If your SMSF holds indivisible assets, you may encounter certain issues in the instance of death or a member leaving the SMSF. In particular, issues may arise if the SMSF holds indivisible assets in the form of a property where a family business is run from.
As you may be aware, the government announced that it was reforming certain aspects of the tax treatment of employee share schemes (ESS) from 1 July 2015. There were a number of drivers behind the change including increasing entrepreneurship and reversing some of the changes implemented in 2009 – essentially...
The ATO has released details of the criteria regarding the eligibility of taxpayers to elect for the Simplifying Transfer Pricing documentation. The simplified options (and the compliance assurance) will be starting from 29 June 2013 for an initial period of 3 years.
In 2014 Wellington Capital Ltd was brought before the Federal Court by ASIC, to challenge the validity of share transfers made by the Responsible Entity (RE) on behalf of its managed investment scheme. The outcome of the case has important implications regarding a RE’s powers within the scheme constitution.