The ATO is reminding SMSF trustees that if they have had transfer balance account events in the last quarter they must lodge a TBAR by 28 January 2025.
The Administrative Appeals Tribunal (AAT) has upheld an ATO decision to impose an excess contributions penalty and rejected a taxpayer’s claim a divorce-related superannuation split constituted special circumstances under taxation law.
Part 1 examines the key characteristics of a sound SMSF succession plan including planning for control of the fund to pass into trusted hands in the event of a member’s death or loss of capacity.