COVID-19: In conversation with the Australian Taxation Office

OVERVIEW

Dana Fleming, Assistant Commissioner – SMSF Segment, Australian Taxation Office joined the Association's CEO, John Maroney for an insightful discussion on how the ATO is supporting the super industry and SMSF professionals during COVID-19.

Dana and John covered a range of key issues that SMSF professionals have asked us to discuss with the ATO including:

• Clarity on the ATO's compliance stance on SMSFs providing rental relief and in-house asset breaches,
• The impact on arm's lengths arrangements, the possible NALI implications and Transfer Balance Cap issues,
• An update on SMSF annual return lodgement dates, deferrals and penalties.

Details

Knowledge Area:
Benefit Payments, Contributions, Practice Management, Taxation
CPD Hours:
0.5

Speakers:

John Maroney

CEO, SMSF Association

John’s experience includes extensive senior management and consulting roles in superannuation, insurance, Australian and international financial regulation, actuarial and risk management plus managing professional and industry associations. He has been employed by large and small employers and consultants, within the private and public sectors, within Australia and internationally and he also was self-employed for several years while he developed a successful consulting firm.

Dana Fleming

Assistant Commissioner - SMSF Segment, Australian Taxation Office

Dana Fleming is the Assistant Commissioner responsible for the self-managed superannuation fund segment.

Dana has over 25 years’ tax experience, both in Australia and overseas, specialising in superannuation and managed funds. Prior to joining the ATO, Dana was a partner at KPMG where she led KPMG’s Asset and Wealth Management tax practice in Australia for four years. Her client portfolio included major industry and retail funds to boutique managed funds. She advised and worked with them on the tax implications of their strategic planning as well as day to day activities.