Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREATO releases draft guidance on fixed entitlements
The ATO has released a draft practical compliance guideline outlining the factors it will consider when determining whether a trust is fixed, which can impact whether an SMSF has non-arm’s length income.
Practical Compliance Guideline 2016/D16, released last week, outlines the factors that the commissioner will consider when deciding whether to exercise the discretion to treat an entitlement as being a fixed entitlement. The decision to treat it as a fixed entitlement results in a trust being treated as a fixed trust under the trust loss provisions.
Read the full story at SMSF Adviser.
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