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The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREHoles in guidance leaves ECPI open to manipulation
A lack of guidance around how distributions from managed investments and unlisted unit trusts should be treated under the new exempt current pension income rules could see some manipulation with tax outcomes, according to a mid-tier firm.
Hayes Knight director of SMSF services Ray Itaoui said that before the changes to exempt current pension income (ECPI) were introduced, when an SMSF received tax statements for managed investments, unlisted unit trusts or private unit trusts, the practitioner would record all the components from these statements at 30 June.
Read the full article at SMSF Adviser.
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