Non-arm's length income accompanied with non-arm's length expenses means high super tax.
The introduction of new rules concerning the taxation of non-arm's length income backdated to 1 July 2018 means a comprehensive understanding of what is meant by non-arm's length expenses. An SMSF that has acquired an asset at a discount or where some services in relation to the investment are provided at no charge then the fund could be paying 45% tax on any income or taxable capital gains. So you need to be on guard.
By attending this webinar you will get an appreciation of:
*What is non-arm's length income,
*How the new changes impact on the price of assets acquired by an SMSF,
*What is meant by a non-arm's length expense,
*Whether goods and services provided at no cost in relation to an investment will result in the income or capital gain being taxed as non-arm's length income.
During this presentation you will be guided through the operation of the new legislation including any rulings published by the ATO. This will include practical case studies to illustrate particular issues.
Webinar Learning Outcomes:
Understand the scope of the new legislation for non-arm's length income.Gain a practical appreciation of what qualifies as a non-arm's length expense.Obtain a detailed knowledge of the rulings applying to non-arm's length income and expenses.
SMSF advisers, accountants and professional advisers who have sound experience with SMSF administration and advice.
Graeme Colley is the Executive Manager, SMSF Technical and Private Wealth at SuperConcepts. In that role his responsibilities include the provision of technical and education services to private wealth clients, maintaining the company's media and corporate profile and its advocacy with government.Graeme has considerable taxation and superannuation experience gained from senior positions in the ATO, as an Assistant Commissioner of the Insurance and Superannuation Commission, ING as well as leading fund managers and consultants. He is a joint author of the CCH Master Financial Planning Guide.
You will be provided with:
• PowerPoint presentation slide deck
• Any Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions