Proactive action for the new Division 296 $3M super cap
Division 296 tax will come into effect this financial year and will have important implications for many Self-Managed Super Fund members and their Estate Planning.
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ATO sounds warning on SMSF / Vestey Trust Transactions
Just before the turn of the year, the ATO highlighted its concern with SMSFs entering into unusual asset protection arrangements. In particular, the ATO noted its concern with the use of ‘Vestey Trusts’ (see ATO release QC 71175, 22 December 2022). What is a Vestey Trust? Vestey Trusts are named after an old baronial English…
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Transfer Balance Cap Indexing just around the corner?
The Transfer Balance Cap (TBC) for superannuation funds came into effect in 2017. For those in the SMSF space, it felt like a genuine shift.
