This very issue was the subject of a recent private binding ruling (released 25 March 2024). The taxpayer had for a number of years made personal superannuation contributions for which the taxpayer claimed a tax deduction. The actual amount of each of these contributions was not provided in the published ruling.
Private Binding Ruling
ATO holds Liechtenstein foundation to be resident trust estate
A recent Private Binding Ruling issued by the ATO (PBR 1051209890341) has held that an entity established in Liechtenstein as a Stiftung (aka Foundation) was to be treated for Australian tax purposes as a resident tax estate.
Tax problem for an SMSF-related party: 0% interest rate, 100% LVR, no regular payments etc – ATO issues PBR
The ATO has recently released a Private Binding Ruling (PBR) indicating that a related party loan to a SMSF at a 0% interest rate triggered significant tax problems.
SISFA is an association that has represented the interests of the self managed superannuation fund (SMSF) sector for over two decades and is the original SMSF industry body solely representing all participants in the sector including administrators, accountants, auditors, lawyers, actuaries, advisers and of course, trustees.