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Capturing tax within unit prices or credit rates presentation


How to capture tax within unit prices or crediting rates can be a minefield for funds. This presentation explores the two main systems used by funds:

  • the “actual information” system
  • the “effective tax rates” system where each of the following issues will be discussed:
    • setting accrual rates (and possibly separate accrual for franking credits)
    • periodic review of these rates
    • periodic comparison of tax accruals arising from these rates versus the fund’sactual tax experience and processing of true up adjustments
    • systems for allocating actual tax paid in BASs and the tax returnto different investment options
    • implementing deferred tax asset caps (if necessary) within these overall systems
    • dealing with pension options
  • APRA’s expectations in this area and other industry guidance (ie ASFA/FSCpapers) are also considered.

Author profiles

Dana Fleming CTA
Dana is the Assistant Commissioner, SMSF Segment of the Australian Taxation Office. Dana has over 25 years tax experience, specialising in superannuation and managed investments both in Australia and overseas at both KPMG and PwC. For the last four years Dana has led KPMG's Asset & Wealth Management Practice in Australia. Her client portfolio included major industry funds and both major retail and managed funds. She advised and worked with them on the tax implications of their strategic planning as well as day to day activities, assisting with tax compliance, dealing with the impact of changing legislation on their systems and products, strategic product development, mergers and unit pricing. Most recently, Dana has joined the ATO as an Assistant Commissioner, leading the SMSF segment where she hopes to make a positive contribution to the public sector and importantly to the community. - Current at 31 May 2019
Narelle Toohey
Narelle is the Tax and Unitisation Manager at VicSuper and previously the Tax Manager at VicSuper since 2010. Narelle is responsible for tax compliance, advisory and risk management and dealing with other matters related to the ATO. More recently Narelle has also been responsible for the implementation of financial aspects of unit pricing and the continuing daily unit pricing. Prior to joining VicSuper, Narelle spent 10 years at Ernst & Young specialising in tax in the superannuation and financial services industries. Narelle is a member of the ASFA Tax Standing Advisory Panel. - Current at 29 August 2013


This was presented at National Superannuation Conference .

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Individual sessions

Chasing tax within unit prices or credit rates

Author(s):  Dana FLEMING,  Narelle TOOHEY

Materials from this session:

Large fund issues and the ATO

Author(s):  Stuart FORSYTH

Materials from this session:

SMSF regulatory update

Author(s):  Greg TANZER

Materials from this session:

Living to age 120, the pensions dilemma and other defined benefit conundrums

Author(s):  Barry RAFE

Materials from this session:

Tax issues in successor fund transfers

Author(s):  Ross Stephens

Materials from this session:

SMSF issues and the ATO

Author(s):  Stuart FORSYTH

Materials from this session:

Further details about this event:


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