assessable income
SMSFs: calculation errors in claiming exempt current pension incomes
By Tax News Division on 28 January, 2011
An exemption is available to complying superannuation funds in respect of the assessable income (other than “non-arm’s length” income or assessable contributions under Subdiv 295-C of the ITAA 1997) attributable to the funding of current pension liabilities (ie amounts set aside to pay pensions). This is commonly referred to as exempt current pension income (ECPI). ...more
Posted in ATO, Superannuation, Tax | Tagged assessable income, ATO, complying superannuation funds, exempt income, exemption, SMSF | Leave a response
Facebook
Twitter
Rss
Tax & Accounting Insight delivers best practices’ insights from leading tax & accounting experts and publications in Australia as well as Tax & Accounting resources and news to help professionals keep up-to-date on major industry issues.
Recent Comments