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Brooks and Commissioner of Taxation (Taxation) [2019] AATA 1236

SUPERANNUATION – self-managed superannuation fund – decision to disqualify Applicant as trustee of self-managed superannuation fund – nature, seriousness and number of contraventions – whether Applicant fit and proper person to be a trustee – loan to related party – no formal loan agreement or other documentation of loan – whether a commercial loan or payment of member benefit – application for review lodged outside of 28 day period – extension of time by consent – reviewable decision affirmed

INCOME TAXATION – decision not to reduce shortfall interest charges – whether withdrawal of funds from self-managed superannuation fund a loan or assessable income – no loan agreement – moneys withdrawn from self-managed superannuation fund used to purchase investment property – no interest repaid – reviewable decision affirmed

Full decision here

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