This edition includes a summary of significant superannuation tax news and announcements made as at 28 February 2018, including:
- Merging super funds tax rollover relief extension
The Government introduced Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 to Parliament on 7 February 2018 which included a number of super related amendments.
- Taxpayer Alert TA 2018/1 – Shares acquired on a limited risk basis around ex-dividend dates
The ATO released Taxpayer Alert TA 2018/1 on 13 February 2018, in relation to the review of arrangements that are intended to provide imputation benefits to Australian taxpayers who are not the true economic owners of the shares.
- ATO focus areas for superannuation fund tax
At the recent Financial Services Taxation Conference, hosted by The Tax Institute, Jeremy Hirschhorn, the Deputy Commissioner Public Groups, Australian Taxation Office (ATO), outlined the four key areas of focus in relation to superannuation funds, namely:
- propagation (and de-propagation), in particular the application of PCG 2017/D16
- data integrity from underlying investment systems
- increased non-portfolio offshore investments
- accelerating shift of assets to pension phase.
- Other superannuation matters.