Daily Archives: November 18, 2021

Superannuation updates FY-22 a big year – SGC up to 10%, CC up to $27.5k, NCC up to $110k, TSB up to $1.7m, Covid changes, unlegislated ‘work test’ and SMSF ‘residency’ changes

It’s true the rules of our superannuation system always seem to be changing and this year is no different. Just when you think you’ve got all the rules and eligibility ages sorted out, they change again. This year is a big one for superannuation fund members, as the caps for contributions have been lifted for…

High Court Special Leave to Appeal – Application granted in Hill v Zuda Pty Ltd (SMSF death benefit nomination); Application refused in Mussalli (McDonalds prepaid rent)

The High Court has granted an application for special leave to leave to appeal the decision in Hill v Zuda Pty Ltd as trustee for The Holly Superannuation Fund & Ors [2021] WASCA 59. The WA Court of Appeal had held that reg 6.17A of the SIS Regs, which concerns the payment of benefits after…

Airport Handling Services Australia Pty Ltd v CofT – Retrospective amendment to JobKeeper rules denied sovereign entities right to JobKeeper payments from day one – no accrued right to be prejudiced

On 15 Nov 2021, the Federal Court held that retrospective amendments, to the JobKeeper Rules, applied to deny 8 Australian resident companies that were sovereign entities, the right to receive JobKeeper payments. Despite the fact that legislative instruments cannot have adverse retrospective application, the taxpayers had no accrued rights, to JobKeeper benefits, as at the date the…