The Government has released draft regulations proposing to amend the SIS Regulations to require trustees of SMSFs to value the assets of the fund at “net market value” for reporting purposes from the 2012-13 year of income. “Net market value” will be defined to mean the amount that could be expected to be received from…
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A self managed superannuation fund that is paying an income stream (pension) is exempt from tax including capital gains) on the earnings from assests used to pay the pension. The ATO has issued a draft ruling TD2001/D3 discussing its views on when a pension commences and ceases. The draft ruling confirms that the ATO believes…
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There’s a revolt underway in consumer land as Australians from all walks of life vote with their feet and shun superannuation in favour of personal savings and other investments. Some push-back is to be expected given account balances struggled to fight the pull of gravity over the last two years, falling lower and lower for…
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