Once again, I have read claims that the ability of SMSFs to borrow money to buy property are a danger to the financial system and investors with SMSF are at risk of losing a large part of their retirement savings.
LRBA
Best to start LRBA in SMSF before July
The proposal to include LRBA debt in total super balance is an incentive to start an LRBA before 1 July 2018 as existing LRBAs will be grandfathered.
Can an SMSF claim travel expenses for a property?
Can trustees claim a tax deduction for their air fare to the Gold Coast for their holiday because their self-managed superannuation fund just so happens to have an investment unit up there?
Are self-managed superannuation funds causing a property bubble?
I recently watched another report on the TV claiming that the ability of self-managed superannuation funds to purchase residential investment property is causing a property bubble in Australia by using Limited Recourse Borrowing Arrangements (LRBAs) (or borrowed money). Let’s look at the facts. LRBAs have grown substantially since 2007 (in 2007 SMSFs were permitted for […]
Ten years to retirement: what can you do and what to avoid
The average superannuation balance for Australians aged 45-54 is $151,500 for males and $90,800 for females. Australians aged 55-64 have an average balance of $322,000 for males and $180,000 for females.1 That really is not much. I call the last 10 years of working life the “home run” decade. It is the last chance that […]
Transitional measures for the $500,000 cap
It seems (based upon a response to a question posed during the course of the campaign) that the Government will introduce transitional measures in relation to this $500,000 cap. The transitional measures will apply in two situations. The first situation is where a super trustee had entered into a contract of sale before 3 May […]
SUPERCentral News – Issue 141 April 2016 – SPECIAL EDITION
LRBAs at Sea and in the (safe) Harbour The ATO issued on 6 April 2016 what it termed “practical compliance guidelines” in relation to limited recourse borrowing arrangements (LRBAs). These guidelines are referred to as “safe harbour” guidelines. Six Important Points Six important points need to be made in relation to the guidelines. What are […]
SUPERCentral News – Issue 140 April 2016
ATO releases Safe Harbour Guidelines The ATO has just released its Safe Harbour Guidelines in relation to limited recourse borrowing arrangements (LRBAs). ATO releases 2016/17 Superannuation Thresholds The Superannuation Thresholds for the 2016/17 financial year have now been released by the ATO. “What is the point of Super?” “What is the point of Super?” asked […]