Scheme

We use 'scheme' as a general term in taxation and super matters on this site and in the application forms. A scheme can be any agreement, arrangement, understanding, plan, proposal, action, course of action, course of conduct, promise or undertaking, whether express or implied and whether enforceable, or intended to be enforceable, by legal proceedings.

See also

• Refer to PS LA 2009/5 for more information about a scheme.

Who does SMSF specific advice apply to?

The Commissioner usually provides SMSF specific advice in response to an application by, or on behalf of, an SMSF. Each advice is specific to that SMSF and cannot be relied on by another entity or SMSF.

As the Commissioner of Taxation provides SMSF specific advice as part of his role as the regulator of SMSFs, SMSF specific advice has no application to entities other than SMSFs and former SMSFs that are regulated by the Commissioner. 'Former SMSFs' means super funds that have ceased being SMSFs for the purposes of the SISA and the trustee of the fund is not a registrable super entity licensee.