TR 2013/D7 - apportioning SMSF expenses
10 Mar 14 |
CCH TAX WEEK
Issue: Issue 4 7 Feb 2014
The Tax Office recently released an important Draft Tax Ruling TR 2013/D7 that focuses on the apportionment of expenses incurred by a superannuation fund where a fund derives both assessable and non-assessable income.
This article looks at the background of the tax ruling and some issues that it covers, such as - distinct and severable expenses; indifferent expenses; contributions and rollovers deemed to be assessable income.
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Daniel of DBA Lawyers, Daniel is one of Australia’s leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO’s Superannuation Industry Relationship Network (SIRN), the Chair of the Tax Institute’s National Superannuation Committee, a member of the Law Institute of Victoria’s Tax Committee, and is involved with a number of other tax and SMSF committees and discussion groups. Dan presents on the subject Taxation of Superannuation at the University of Melbourne’s Master of Laws/Tax program. Dan is also a Specialist SMSF Advisor.
- Current at
29 May 2019