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Can the ATO access a taxpayer's superannuation when bankruptcy looms?

Publication date: 09 Sep 13 | Source: AUSTRALIAN SUPERANNUATION LAW BULLETIN

Issue: Vol 24 No 10 July 2013

Pages: pp 224-225


The generally accepted notion that superannuation is protected on bankruptcy due to s116(2)(d)(iii)of the Bankruptcy Act 1966 (Cth). However, the Commissioner has recently shown a willingness to seize superannuation moneys to satisfy personal tax liabilities, even where bankruptcy was looming.

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Author profiles

David Oon
David is a Consultant with DBA Lawyers. - Current at 01 August 2013
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Bryce Figot CTA
Bryce is a Director at leading SMSF law firm DBA Lawyers. He practices predominantly in taxation and superannuation law, particularly the law of SMSFs. He is regularly quoted and published in the Australian Financial Review, the Herald Sun, CCH and LexisNexis publications, and elsewhere in the financial press. He presents extensively to accountants, financial planners and lawyers Australia-wide. Bryce has worked with DBA Lawyers since 2003. He holds both a bachelor degree and a masters degree in law and is an accredited Specialist SMSF Advisor. - Current at 10 December 2015
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