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SMSF not a resident fund gets a 46.5% tax bill
The sole member of a super fund moved to New Zealand and ceased to be a resident of Australia.

The sole member of a super fund moved to New Zealand and ceased to be a resident of Australia.  As the member was also the sole director of the trustee company of the super fund, it was determined that the super fund was non-resident in that year and became non-complying.  The ATO issued an amended assessment and increased the taxable income of the fund. For all of the latest information on SMSF compliance contact Travis Allen at this office.

7th-January-2010
 
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