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 Butler, CTA 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
26 February 2018