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  • Advice under development – superannuation issues

    We are currently developing advice and guidance on the following superannuation issues.

    [3934] Pension tax bonuses

    Title
    Draft Practical Compliance Guideline
    ATO compliance approach to non-inclusion of pension tax bonuses in members’ opening account balances when members transfer to pension phase

    Registered
    September 2018

    Purpose
    The draft Guideline will provide a transitional compliance approach for large APRA-regulated superannuation funds in respect of pension tax bonuses not included in members’ opening account balances on commencement of a pension.

    Expected completion
    To be advised

    Contact
    Ricardo Coburn, Public Groups and International
    Phone: (03) 9275 2040
    Ricardo.Coburn@ato.gov.au

    [3938] Superannuation income stream

    Title
    Addendum to Taxation Ruling TR 2013/5
    Income tax: when a superannuation income stream commences and ceases

    Registered
    30 August 2018

    Purpose
    TR 2013/5 has been impacted by the legislative amendments flowing from the 2016 Budget announcement of the transfer balance cap, which limits the superannuation interests that a person can have in retirement phase. The Addendum will particularly address the consequences of a superannuation income stream commencing or ceasing.

    Expected completion
    July 2019

    Contact
    PAGSEO@ato.gov.au

    [3970] Self-managed super funds – property development

    Title
    SMSF Regulator's Bulletin
    Self-managed super funds and property development

    Registered
    May 2019

    Purpose
    This Bulletin will outline the potential tax and regulatory consequences of arrangements self-managed super funds enter into to develop property.

    Expected completion
    July 2019

    Contact
    PAGSEO@ato.gov.au

    [3971] Self-managed super funds – rectification directions

    Title
    Law Administration Practice Statement
    Rectification direction for contraventions to the Superannuation Industry (Supervision) Act 1993

    Registered
    May 2019

    Purpose
    This Practice statement will provide guidance to staff on the relevant matters to be considered when deciding whether to give a trustee or a director of a body corporate that is a trustee of a self-managed super fund a written rectification direction under section 159 of the Superannuation Industry (Supervision) Act 1993.

    Expected completion
    Late 2019

    Contact
    PAGSEO@ato.gov.au

    [3972] Self-managed super funds – education directions

    Title
    Law Administration Practice Statement
    Education direction for contraventions of the Superannuation Industry (Supervision) Act 1993

    Registered
    May 2019

    Purpose
    This Practice statement will provide guidance to staff on the relevant matters to be considered when deciding whether to give a trustee or a director of a body corporate that is a trustee of a self-managed super fund a written education direction under section 160 of the Superannuation Industry (Supervision) Act 1993.

    Expected completion
    Late 2019

    Contact
    PAGSEO@ato.gov.au

    Last modified: 28 May 2019QC 50320