Full Federal Court decision in the Aussiegolfa case may have resulted in a significant setback to the ATO in its thinking on the sole purpose test.

The majority of SMSFs lodged their Transfer Balance Reports to report the 30 June 2017 value of the members’ pension accounts in the final days of the 2018 financial year. ETB determinations then began issuing three to four days later.

A great many retired SMSF members with large superannuation balances adjusted their pension accounts back to $1.6 million on 30 June 2017.

When will the unallocated amount first count towards his Total Superannuation Balance?

From 1 July 2017 some funds providing retirement phase pensions are no longer allowed to be classified as segregated when it comes to claiming a tax exemption on some or all of their investment income.

From 1 July 2017 there are three major changes affecting funds paying retirement phase pensions and claiming a tax exemption on some or all of their investment income (exempt current pension income or ECPI).

Given such action is now contrary to the ATO’s new position expressed in SMSF Regulator’s Bulletin 2018/1, is the ATO likely to take action in relation to the fund?

You may recall the Government announcing that they intended to amend the Total Superannuation Balance provisions in situations where an individual was a member of an SMSF with a LRBA in place.

Winter has arrived and that means it is time to get all our pre-30 June planning finalised.

One of the more crazy elements of the 1 July 2017 superannuation changes was the treatment of market linked pensions.

The TBAR system revolves around the reporting of “events”, hence the name “events-based reporting”.

Your client became the “owner” of the pension on the day of her husband’s passing. This means the value of the pension counts towards her Total Superannuation Balance immediately in March 2018.