Superannuation: SMSFs and court imposed penalties
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Published on 01 Mar 11 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
Contravention of the SIS legislation can cause a superannuation fund to become non-complying. Additional negative consequences might also follow. A recent court case provides important guidance on the imposition of such consequences.
Author profile
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 30 August 2017More by Bryce FIGOT
- Recent court decisions clarify protection of death benefit payments to bankrupts - 04-September-2017
- Superannuation: Critical case: Wooster v Morris - 01-July-2017
- Death benefit dependancy - 09-February-2017
- Superannuation: The $1.6m transfer balance cap explained - 01-November-2016
- The $1.6m transfer balance cap explained - 11-October-2016
- 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: Can the ATO access a taxpayer’s superannuation when bankruptcy looms? - 01-August-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: 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.
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