The ATO refuses to accept a tax return from an intestate deceased estate unless it is signed by the Administrator of the estate. But what if there is no Administrator? Townsends’ Dominique Perry explains.
ATO
First home buyers benefit from amended Super Saver Scheme
The cap on the amount of contributions which can participate in the First Home Super Saver Scheme will be $50,000 (currently $30,000) from 1 July 2022.
Director identification number (Director ID) guidelines
Effective today the ATO has implemented new requirements regarding director identification numbers. The following covers the key changes to be aware of.
Does a criminal record disqualify you as an SMSF trustee?
It is best for SMSF trustees to continuously maintain a clean record to keep their SMSF but getting a criminal record is not yet the end of the world.
What to consider when updating SMSF trust deed
If your trust deed was prepared quite some time ago, it may be time to update the governing rules of your SMSF trust deed. Doing so means that you can have peace of mind in knowing that the rules are current.
SMSFs transacting with former spouse, cousins or friends
A question we get from time to time is whether the trustee(s) of an SMSF can enter into transactions such as a loan, lease or another type with a fund member’s former spouse. In this article, we will consider a number of compliance issues with SMSF transactions involving a former spouse.
ATO to provide super details in family law property matters
An amendment bill has now been introduced into Parliament to permit the Australian Taxation Office (ATO) to provide details about the superannuation accounts of a party to a Family Law property proceeding.
Where does a company ‘reside’ for tax purposes?
Australia levies tax on its residents. But how can a company ‘reside’ anywhere for tax purposes? And can a company ‘reside’ in Australia if its directors and or shareholders are overseas?