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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 Fleming is the national leader for KPMG's market leading Asset & Wealth Management tax practice. She is widely recognised as the leading superannuation and funds tax adviser in Australia. Dana has more than 20 years of experience, specialising in the taxation of superannuation funds and managed investments. Her client portfolio includes major industry superannuation funds and both major retail and boutique managed funds and their service providers. She works closely with them on the tax implications of their strategic planning and tax governance as well as day to day activities; assisting with tax compliance, dealing with the impact of changing legislation on their systems and products, product structuring and unit pricing. Dana is experienced in the tax issues of superannuation fund mergers having provided tax advice on many of the significant mergers that have occurred. She has also negotiated positive outcomes for her clients over the course many ATO reviews. - Current at 15 February 2018
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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