Technical Hub

Actuarial certificates and tax

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Claiming SMSF tax deductions 14 Dec 2018
When completing the annual return the SMSF trustee needs to determine whether fund expenses are fully deductible, non-deductible or must be apportioned. Expenses which must be apportioned can be claim...
Disregarded Small Fund Assets 10 Oct 2018
Introduced as part of the superannuation reforms the disregarded small fund assets legislation applies from the 2017-18 income year onwards and removes the ability of some self-managed superannuation ...
Managing capital gains to maximise exempt income 11 Sep 2018
How capital gains or losses are taxed will depend on whether fund members are in retirement phase, and the method used to claim exempt current pension income (ECPI). In order to better manage tax outc...
End of 2015-16 SMSF tax considerations 06 Jun 2016
Tax planning and strategies can be important as we approach the end of the financial year. Here are just a few key tax considerations to be aware of as we approach year end to ensure the self-managed ...
New guidance on ability to claim ECPI when pension standards are not met 15 Oct 2015
The ATO has provided a concession under the Commissioner's general powers of administration which allows for a pension to continue, under some circumstances, when the pension standards are not met.
Exempt current pension income - Getting it right 15 Sep 2015
This paper will explore the exempt current pension income (ECPI) tax concession available to self-managed superannuation funds (SMSFs). It will include case studies for fund losses and segregation, al...
Calculating capital gains in a segregated fund with carried forward losses 15 Oct 2014
Calculating the net capital gain or loss for an income year is usually straightforward. However, there can be some uncertainty where a fund has carried forward capital losses and moves into pension ph...
Can i have an actuarial certificate for part of the year? 15 Oct 2014
Section 295-390 of the ITAA 1997 makes it clear that the tax exempt proportion calculation for an actuarial certificate under the unsegregated method uses the average values for a full financial year....
Carrying forward capital losses where a fund is fully in pension phase 15 Oct 2014
A fund which contains segregated assets, or is fully in pension phase, needs to be aware of the special rules where capital gains and losses are incurred on segregated pension assets. In particular th...
Deductibility of insurance premiums in an SMSF 15 Oct 2014
On 1 July 2011 the deductibility of insurance premiums in an SMSF changed, following completion of a four-year transition period from the introduction of the Simple Super reforms at 1 July 2007. In pa...
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