SMSF Association Submission – Draft Rulings LCR 2021/2DC and TR 2010/DC2

SMSF Association Submission

SMSF ASSOCIATION SUBMISSION – TR 2010/1DC2: INCOME TAX: SUPERANNUATION CONTRIBUTIONS


The SMSF Association welcomes the opportunity to provide a submission on Draft Taxation Ruling TR 2010/1DC2 Income tax: superannuation contributions (the Ruling).


We recommend that this submission be read in conjunction with our submission on LCR 2021/2DC Non-arm’s length income – expenditure incurred under a non-arm’s length arrangement (the LCR), as the issues are highly interrelated. We have intentionally avoided replication to provide a cohesive analysis; both submissions collectively address the issues arising from the interaction of the contribution and NALI provisions and should not be considered in isolation.
This submission highlights critical concerns related to market valuation requirements, the treatment of insurance proceeds, increases in fund capital, and the removal of the compliance approach previously outlined in Appendix 2 of TR 2010/1.

Draft Rulings LCR 2021/2DC and TR 2010/DC2

SMSF Association Submission