This Ruling was issued on 12 August 2009. It was not previously released in draft form.
A self managed superannuation funds product ruling provides the Commissioner's view on the application of the Superannuation Industry (Supervision) Act 1993 and Superannuation Industry (Supervision) Regulations 1994 to a scheme or "product" that the trustees of a number of self managed superannuation funds enter into in substantially the same way with a common entity or group of entities.
SMSFPR 2009/1 outlines the system of Self Managed Superannuation Funds Product Rulings (SMSFPR), including:
- what constitutes an SMSFPR;
- the non binding status of an SMSFPR;
- the consequences of how the scheme dealt with in an SMSFPR is carried out;
- the extent of certainty provided by an SMSFPR; and
- when the Commissioner may refuse to issue an SMSFPR.
For additional information about SMSF Product Rulings, refer to paras 32-44 of Practice Statement Law Administration PS LA 2009/5
The ATO has also issued the following forms and information in relation to SMSF Product Rulings:
- Changes to a scheme or request to withdraw SMSFPR - provides information on how an SMSF product ruling applies if the arrangement differs from the product ruling
- Contact numbers for SMSFPR - a list of contacts for SMSF product rulings
- Request for self managed superannuation fund product ruling - use this form if you want advice about how the Superannuation Industry (Supervision) Act 1993 (SISA) and the Superannuation Industry (Supervision) Regulations 1994 (SISR) apply to an investment by a self-managed superannuation fund (SMSF) in your product.
- Request for self-managed superannuation fund specific advice - use this form if you want specific advice about how the super law applies to a particular transaction or arrangement for a self-managed superannuation fund.
For a copy of SMSFPR 2009/1, go here