Professionals / SMSF / SMSF Compliance

Cheque your timing with benefit payments

The Australian Taxation Office has recently issued its first SMSF determination for 2011, SMSFD 2011/1. ┬áThis determination confirms that a benefit payable by cheque or promissory note is “cashed” at the time it is received by the member or beneficiary. This issue is very common when dealing with drawing minimum pension levels before 30 June … Continue reading »