The ‘Green Army’ is a Coalition policy to “gradually build to a 15,000 strong environmental workforce.” But this workforce isn’t entitled to superannuation guarantee contributions.
The ATO has issued an interpretative decision outlining their view on when work at sea with be ‘work done outside Australia’ for superannuation guarantee purposes, ATO ID 2015/24 Superannuation guarantee: work done outside Australia.
The ATO has issued a new ruling stating that journal entries to not satisfy the requirement to cash a superannuation death benefit, after withdrawing two recently issued rulings on the same topic: ATO ID 2015/23 Superannuation: Member’s benefits in a regulated superannuation fund must be ‘cashed’ upon death by being paid – mere journal entries insufficient.
A recent ATO decision has reinforced the care that must be taken when commuting complying lifetime pensions, as the allocation of the reserves could result in some of the balance being classified as a concessional contribution.
Time limits apply to SMSF trustees appointing SMSF auditors, how long SMSF trustees have to give requested documents to the auditor and how long SMSF auditors have to give the SMSF audit report to the trustees.Read More »SMSF audits: time limits to appoint auditor and give report