Source: Taxation In Australia Journal Article
Published Date: 1 Jun 2015
The ATO has been working on initiatives to strengthen the self-managed superannuation funds (SMSF) sector to ensure that it achieves its sole purpose: to grow and protect retirement incomes. In this article, the ATO's Assistant Commissioner, SMSF Segment, outlines some of those initiatives, including technical guidance around the reporting of exempt current pension income, and non-commercial limited recourse borrowing arrangements and other loan arrangements that contravene superannuation laws.
The article also discusses the current state of play, compliance management and service delivery by the ATO, the minimum pension payment requirement, paying pension on death, and forward planning for possibilities including reduced capacity to manage a fund.
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