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The ATO has released an article regarding the ATO’s current position on the Bendel decision.

 

The article discusses some common questions regarding the Commissioner of Taxation v Bendel [2025] FCAFC 15 (Bendel) case decision and court process. Taxpayers are strongly encouraged to review the ATO Interim Decision Impact Statement, and to seek advice about their individual circumstances.

 

The ATO has reminded SMSF trustees of the requirement to pay the minimum payment for any account based pensions by 30 June.

 

The ATO stated 'If the minimum payment is not made by 30 June, this could result in adverse taxation consequences for the member.'

 

 

 

 

The ATO has advised that after from 1 July 2025, taxpayers will no longer be able to claim an income tax deduction for ATO interest charges.

 

This measure was originally announced as part of the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), where the government announced it would amend the tax law to deny income tax deductions for ATO interest charges incurred in income years starting on or after 1 July 2025. This measure is now law.

 

These amendments deny deductions for ATO interest charges (being the general interest charge (GIC) and the shortfall interest charge (SIC)).

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Latest articles

2025-25 Federal Budget - Personal income tax cuts passed parliament

The personal income tax cuts announced in the Federal Budget have already passed parliament and await royal assent.

This article discusses the benefit these tax cuts will provide, their impact on a range of other thresholds and advice implications for concessional contribution strategies. 
 
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End of year super strategies

As we approach the end of the 2024-25 financial year, it’s a great time to review year-end superannuation strategies and get ready for the new financial year.

 

 

 

 

 

 

 

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SMSFs and CGT rollover on relationship breakdown

When two members of an SMSF are separating, and the fund pays a family law superannuation payment to another fund, and/or rolls over a spouse’s interest to another fund by in-specie transfer, a CGT rollover may apply to disregard CGT in the originating fund and transfer the cost base of the asset to the new fund.

 

 
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Adviser use only. Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances.  You should read the relevant Product Disclosure Statements (PDSs), Investor Directed Portfolio Service Guides (IDPS Guides) and Financial Services Guides (FSGs) before making any recommendations to a client. The PDSs, IDPS Guides and FSGs can be obtained from www.cfs.com.au or by calling us on 13 18 36. Past performance or awards are no indication of future performance.