Contractor drivers are employees for super guarantee: ATO

Contractor or employees - super guaranteeThe ATO has issued an Interpretative Decision setting out when superannuation guarantee can be owed for people who are called ‘independent contractors’.

This is contained in ATO ID 2014/28: Superannuation Guarantee Status of the Worker: Pizza delivery drivers as employees.

The question addressed in the decision was:

“Are pizza delivery drivers, who are required to provide and maintain their own motor vehicles in performing their deliveries, employees for the purposes of the Superannuation Guarantee (Administration) Act 1992 (SGAA)?” Read more...

Is a loan by a SMSF to a property trust an in-house asset? – ATO Ruling

The ATO has issued a ruling considering the in-house asset status of a loan to a property trust which the SMSF has invested in via a related unit trust. The ruling, ATO Interpretative Decision 2014/23, addresses the following scenario:

  • The SMSF has a holding in a unit trust, which is a related party of the SMSF
  • This unit trust holds less than 10% of the units in a Property Trust
  • The SMSF makes a loan to the Property Trust
  • This loan is subject to a “commercial loan agreement”
  •