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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

Impacts of volatile markets on super

Markets worldwide and in Australia experience volatility from time to time. Over the last couple of years, we have seen both negative and positive returns which has had several impacts on super accounts.  

In this article, we discuss the implications on total super balance and super tax components when super balances rise and fall due to market fluctuations.

 

 

 
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Consequences of an SMSF failing to satisfy minimum pension standards

Where an SMSF paying an account based pension fails the pension standards such as by not paying the minimum, it can have significant consequences.

This can include increased fund tax liabilities and the merger of a members different super interests. In addition, following recent ATO guidance it could also trigger a range of transfer balance cap issues and require trustees to navigate significant additional complexity.

 

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Excess concessional contributions - release or keep in super?

Where a client exceeds their concessional contributions cap, the ATO will issue an excess concessional contributions determination, advising two options for dealing with the excess:

 

1)       Do nothing and leave the excess in the super fund

2)       Release up to 85% of the excess from the super fund

 

This article looks at the tax and super implications of each option and identifies which option may be more beneficial.
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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.