The Taxation Institute of Australia (the Taxation Institute) welcomes this opportunity to provide comment and feedback on the ATO's discussion paper, Expenses paid by an employer treated as superannuation contributions (the discussion paper) that was released by the ATO on 10 July 2003 and is accessible through the ATO's website.
The Taxation Institute is not in overall agreement with the position taken by the ATO in the discussion paper. Related parties (usually an employer sponsor) paying expenses on behalf of a self managed superannuation fund (SMSF) does not automatically result in a contravention of the Superannuation Industry (Supervision) Act 1993 (SISA) and a consequent denial of a tax deduction for the employer under section 82AAC of the Income Tax Assessment Act 1936 (ITAA).
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