Published on 03 Jun 10
by VICTORIAN DIVISION, THE TAX INSTITUTE
This paper covers:
when can an SMSF use a reserve?
what must a trustee do in creating and maintaining reserves?
how are distributions from reserves treated for tax purposes?
how are amounts distributed from reserves classified for superannuation benefit purposes?
so what is a reserve?
what is the maximum amount permitted to be accumulated in reserves?
what types of reserving strategies are available to SMSFs?
Robert O'Donohue CTA
Robert, O'Donohue, FTI, is a Partner in HWL Ebsworth's National Superannuation and Funds Management Group and advises clients across the whole superannuation industry. Robert has acted for many of the better known APRA regulated superannuation funds in Australia together with many SMSFs and advises across the whole spectrum of issues faced by superannuation funds from compliance and trustee duties to disclosure and outsourcing arrangements. Current at 24 August 2012
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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