Superannuation: Can the ATO access a taxpayer’s superannuation when bankruptcy looms?

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Published on 01 Aug 13 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

If the ATO seizes superannuation moneys to satisfy personal tax debts, taxpayers may be able to mount a strong challenge where bankruptcy was imminent.

Author profiles:

Bryce Figot CTA

Bryce is a Director at leading SMSF law firm DBA Lawyers. He practices predominantly in taxation and superannuation law, particularly the law of SMSFs. He is regularly quoted and published in the Australian Financial Review, the Herald Sun, CCH and LexisNexis publications, and elsewhere in the financial press. He presents extensively to accountants, financial planners and lawyers Australia-wide. Bryce has worked with DBA Lawyers since 2003. He holds both a bachelor degree and a masters degree in law and is an accredited Specialist SMSF Advisor. Current at 10 December 2015

Death benefit dependant: can an interdependency relationship exist between deceased child and parent? - 12-July-2016
Insurance traps for SMSF members - 12-April-2016
SMSF estate planning disasters, and how to avoid them..paper - 09-March-2016
Collectables and personal use assets in an SMSF - 09-December-2015
Good news for SMSFs and bankruptcy comes with a caution - 05-May-2015
Problem SMSFs - reasons to help the taxman do his job? - 31-March-2015
Latest on excess non-concessional contributions - 14-October-2014
McIntosh case has important implications for SMSF succession planning - 01-July-2014
Superannuation: Non-arm’s length SMSF loans = huge tax bill! - 01-June-2014
Non-arm's length SMSF loans = huge tax bill! - 26-May-2014
Trustees be warned - the ATO has new penalty powers - 26-May-2014
The most important case ever in SMSF succession planning.... and what it really means - 06-May-2014
TR 2010/1: did the ATO get it right? Liwszyc v Commissioner of Taxation tells all! - 29-April-2014
Superannuation: TR 2010/1: Did the ATO get it right? - 01-April-2014
Superannuation: The most important case in SMSF succession planning and what it really means - 01-February-2014
Changes of trustee - getting it right - 26-November-2013
Superannuation: How to deduct superannuation contributions by passive investment trusts - 01-November-2013
Changes for SMSF pensions - 09-September-2013
The ATO versus the protected status of super - 09-September-2013
Can the ATO access a taxpayer's superannuation when bankruptcy looms? - 09-September-2013
Risks of borrowing are all related - 09-September-2013
Superannuation: Changes for SMSF pensions - 01-July-2013
Critical new SMSF strategies and updates paper - 18-April-2013
Superannuation: SMSF trustee dealings with the ATO – How to handle contraventions - 01-April-2013
Superannuation: Auto-reversionary pensions after the MYEFO - 01-December-2012
SMSFs - Critical new stategies and updates paper - 25-October-2012
Superannuation: Related party lending and SMSFs - Has the ATO really given a “carte blanche”? - 01-October-2012
Superannuation: Sheltering in Bornstein’s “perfect storm”: Excess contributions tax crisis averted - 01-September-2012
Investments in unit trusts and companies: The current issues paper - 22-August-2012
Superannuation: When is a grandchild financially dependent on a grandparent? - 01-July-2012
Superannuation: No more trading stock for SMSFs - 01-June-2012
The Ali decision - What it means for SMSFs - 01-March-2012
The Ali decision : what it means for SMSFs - 29-February-2012
The Ali decision : what it means for SMSF's - 22-February-2012
Superannuation: New ATO ID released: Impact for SMSF succession planning - 01-December-2011
Creating and protecting wealth using self managed pensions paper - 09-November-2011
Reversionary pensions paper - 28-October-2011
Superannuation: Impact of SMSFR 2011/D1 - 01-October-2011
Why your SMSF should have a sole purpose corporate trustee. - 26-September-2011
Superannuation: Why your SMSF should have a sole purpose corporate trustee - 01-September-2011
Business real property and SMSFs conducting businesses paper - 04-August-2011
Superannuation: Why your children should not be members of your SMSF - 01-July-2011
Overseas SMSF members - a practical guide. - 28-April-2011
Superannuation: Overseas SMSF members – a practical guide - 01-April-2011
Superannuation: SMSFs and court imposed penalties - 01-March-2011
Superannuation: The Finch judgment: What it really means for SMSFs - 01-February-2011
ATO clarification for super funds borrowing. - 11-October-2010
ATO clarification for super funds borrowing - 01-October-2010
Superannuation: New SMSF borrowing laws: The new must know changes - 01-September-2010
New SMSF borrowing laws - the new "must know" changes. - 31-August-2010
Superannuation: Integrated SMSF succession planning - 01-August-2010
Superannuation: Important clarifications for super fund borrowings - 01-July-2010
Important clarifications for super fund borrowings. - 25-June-2010
CGT small business concessions and superannuation. - 22-June-2010
Superannuation: Henry and Cooper — what does it mean for you? - 01-June-2010
Superannuation: Greater certainty for SMSF borrowing arrangements - 01-May-2010
Greater certainty for SMSF borrowing arrangements. - 08-April-2010
The consequences of non-compliance. - 06-April-2010
ATO's step up in rendering SMSFs non-complying: what it means to you. - 08-February-2010
Superannuation: Can a BDBN specify how a death benefit is paid? - 01-February-2010
Can a BDBN specify how a death benefit is paid? - 21-January-2010
Important clarification for SMSFs using enduring powers of attorney. - 24-November-2009
Important clarification for SMSFs using enduring powers of attorney. - 22-October-2009
The bind that ties? - 01-October-2009
SMSFs and non-arm’s length (special) income - 01-October-2009
SMSFs & non-arm's length income: the key "must know" elements. - 29-September-2009
Excess superannuation contributions: the rules ... and what to do when things go wrong. - 15-September-2009
How long can a BDBN last for? - 10-August-2009
Excess super contributions: the practical issues - 01-August-2009
Real estate development and SMSFs paper - 24-July-2009
Excess superannuation contributions: the practical issues. - 14-July-2009
SMSF trustees and property. - 02-June-2009
Superannuation contributions for grandchildren? - 18-May-2009
Anti-detriment deductions. - 12-May-2009
Minimum pension payments officially lowered. - 28-April-2009
Can an SMSF run a real estate development business? - 09-April-2009
Super and bankruptcy: protecting your nest egg. - 08-April-2009
Superannuation: The hot issues paper - 13-March-2009
Super and bankruptcy: protecting your nest egg. - 10-March-2009
Super and bankruptcy: protecting your nest egg. - 02-March-2009
Paperwork & SMSF : how to avoid some common mistakes. - 07-January-2009
Anti-detriment deductions. - 25-November-2008
Anti-detriment deductions. - 11-November-2008
Top three errors in smsf paperwork. - 08-October-2008
Who is financially dependent? - 01-September-2008
Key issues in Self Managed Superannuation Fund succession planning. - 01-August-2008
Superannuation: key issues paper - 19-October-2007

Click here to expand/collapse more articles by Bryce FIGOT.

David Oon

David is a Consultant with DBA Lawyers. Current at 01 August 2013

Insurance traps for SMSF members - 12-April-2016
Good news for SMSFs and bankruptcy comes with a caution - 05-May-2015
Problem SMSFs - reasons to help the taxman do his job? - 31-March-2015
Superannuation: How to deduct superannuation contributions by passive investment trusts - 01-November-2013
What's hot in super paper - 10-October-2013
Can the ATO access a taxpayer's superannuation when bankruptcy looms? - 09-September-2013
Small business CGT relief and related party transactions paper - 29-August-2013
Tax education: What happens when SMSF trustees don’t agree? - 01-March-2013
Superannuation: Sheltering in Bornstein’s “perfect storm”: Excess contributions tax crisis averted - 01-September-2012
Sheltering in Bornstein's "perfect storm" - excess contributions tax crisis averted - 15-August-2012
Superannuation: When is a grandchild financially dependent on a grandparent? - 01-July-2012

Click here to expand/collapse more articles by David Oon.

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