Understand how SMSF life-insurance proceeds create an untaxed element under s 307-290 and affect death-benefit tax for non-dependants.
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SMSF Tax Articles
SMSF and GST: When It Applies & When You Must Register
An SMSF is predominantly making financial supplies the provision of an interest in a super fund. Financials supplies are a category of input tax supplies. SMSF and GST.
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Claiming Depreciation for Second-hand Assets
From 1 July 2017, second-hand assets in residential properties are under new depreciation rules. In the past, when an SMSF purchased a used residential property, the fund could claim Div 40 deductions for existing furniture and fittings; under the new rules, Div 40 deductions are most likely denied for these assets. However the new rules […]
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CGT Relief – Capital Losses Carried Forward and Deemed Capital Losses
There are advantages in a cost base lift to create a deemed capital gain. What about CGT Relief deemed losses? Are there benefits to reset
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CGT Relief for TRIS
SMSF members having a TRIS without meeting a condition of release could potentially consider applying CGT relief for TRIS
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Tax Effect Accounting for SMSF, Templates and Examples
This article explains tax effect accounting for SMSF, provides a tax reconciliation template and an example of deferred tax calculation. Accounting for SMSF income tax transactions (tax effect accounting for SMSF) may have two separate effects: Current tax consequences which give rise to a current tax liability for income tax payable to the ATO Future […]
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