The recent NSW Supreme Court decision in Gainer Associates Pty Limited [2024] NSWSC 1138 sheds light on critical issues surrounding self-managed superannuation funds. This case intricately examines  issues of trustee responsibilities, compliance with the Superannuation Industry (Supervision) Act 1993, and the necessary judicial oversight in potentially contentious situations.

The court emphasised the need for trustees to maintain clear documentation and adhere to the Superannuation Industry (Supervision) Act 1993. This case serves as a vital reminder for trustees regarding the complexities of compliance and the significance of transparency in governance..

The recent VCAT decision of Caloutas as trustee for Caloutas Family Trust v Commissioner of State Revenue [2025] VCAT explored how bare or fixed trusts intersect with the Victoria land tax trust surcharge provisions.

In a Private Binding Ruling, the ATO determined that payment of a death benefit to a spouse’s estate is not tax-free under section 302-10(2) of the Income Tax Assessment Act 1997.

A transfer of dutiable property made without monetary consideration to a trustee or custodian of a complying superannuation fund where there is no change in the beneficial ownership of the property. 

The recent NSW Supreme Court case of Neal v Brown [2024] NSWSC 841 highlights the adverse and unforeseen consequences of withdrawing superannuation death benefits before one’s death.

This case emphasis the necessity of not only considering tax implications when withdrawing superannuation benefits before death but also how such withdrawals interact with the terms of a will. Proper estate planning is essential to ensure that the distribution of assets aligns with the deceased’s wishes.

Transfer of property due to a change of trustee

The ATO responds to the BPFN ruling, which challenged its stringent stance on non-arm's length income (NALI) in SMSFs. While maintaining the importance of benchmarking, the ruling highlights the validity of commercial assessments in private lending schemes.

The New South Wales Supreme Court reverses land transfer to SMSF due to son's unconscionable conduct in Cihan Family Trust v Cihan Family Superannuation Fund [2023] NSWSC 1289

From 1 July 2024, a new state taxes regime commences for certain commercial and industrial properties. Upfront land transfer (stamp) duty will be phased out in lieu of a new annualised Commercial and Industrial Property Tax (New Tax).

A transfer of real property from a superannuation fund to a beneficiary of the fund

A binding death benefit nomination (BDBN) is a direction from a member of a superannuation fund to the trustee of the superannuation fund on how that person’s superannuation entitlements are to be paid or transferred on their death. In the absence of a BDBN, the trustee is not compelled to distribute the superannuation proceeds in accordance with the member’s wishes.

There has recently been publicity in the media; about the long delays by superannuation funds in processing applications made by bereaved family members for payment of deceased person’s superannuation entitlements.

Some reports have referenced people waiting 15 months for the fund to make the payment, causing emotional and financial distress for the claimants.

Not so long ago, the possessions that people left to their estate after passing away were physical and tangible like cars, cash or jewellery. These days however people produce a significant digital footprint consisting of accounts, profiles, and digital assets. New assets and investments such as cryptocurrencies, NFTs, loyalty program accounts and social media accounts are all changing the succession planning process. Existing tools like Wills and trusts remain effective to deal with these digital assets.

The Government will allow members to access $10,000 of their super benefits in the 2019/20 year and a further $10,000 from 1 July 2020 until 24 September 2020 in the 2020/21 year.

The Government has reduced the minimum annual payment required for account-based pensions and annuities, allocated pensions and annuities and market-linked pensions and annuities by 50% in the 2019/20 and the 2020/21 financial years.

The ATO has also confirmed that it will take no compliance action if the 5% in house asset limit is exceeded as at 30 June 2020.

The ATO has confirmed that it will not take compliance action against SMSFs that give a related party tenant a temporary reduction in rent during the 2019/20 and 2020/21 years.

Determining whether an individual is an employee or contractor can leave you scratching your head. There is unfortunately little clarification in the context of superannuation entitlements and determining whether payments to a contractor are covered by the superannuation guarantee (SGC) regime further blurs the line between contractor and employee.

This is the second in a series of articles on strategies that can be employed in a tax dispute with the ATO.

Tax disputes can be costly, time consuming, and stressful, even if the taxpayer is ultimately successful.  When approached by the Australian Taxation Office (ATO), we will always advise clients to engage with the ATO to either resolve or narrow the issues in dispute as quickly as possible. 

The Coalition’s ‘miracle’ win may not have been foreseen by the polls or the pundits, however either way the votes fell, the tax and superannuation landscape was up for change.