An SMSF investing with a related party must be careful not to breach the in-house asset rule.
compliance
Low interest rates prompting LRBA refinancing
SMSF trustees should not give into the siren call of low interest rate refinancing of their Fund’s loan until they have considered these points.
COVID-19 rent deferral IHA relief
The ATO has issued draft SPR 2020/D2 which when registered will exempt SMSFs that allow a rent deferral to a related party tenant from the in-house assets provisions in certain situations.
SMSFs must transact at arm’s length
This article provides an explanation of the arm’s length dealing concept, drawing upon provisions in relevant legislations, ATO Rulings and published information.
Does your SMSF need to take out life insurance?
Trustees of SMSFs must not forget their duty to consider life insurance for their members.
Covid-19 rent relief – a practical checklist for SMSFs
The ATO has announced that their compliance approach for the 2019-20 and 2020-21 financial years is that they “will not take action if an SMSF gives a tenant (even if a related party to the fund) a temporary rent reduction, waiver or deferral because of financial effects of COVID-19”.
SMSFs selling geared equities which the Fund borrowed to buy
If your SMSF can’t hold on any longer and must sell a parcel of shares or units which it borrowed to purchase, there are compliance issues which must be remembered, pandemic or no pandemic.
ATO investment strategy guidelines update
The ATO has recently issued new guidelines in relation to SMSF investment strategy compliance. The rules or legislation in this regard have not changed but the ATO has stepped up its documentation requirements.