A question we get from time to time is whether the trustee(s) of an SMSF can enter into transactions with a fund member’s former spouse whether the transaction is a loan, lease or another type. In this article, we will consider a number of compliance issues with SMSF transactions involving a former spouse.
related-party transactions
Newsflash: SISFA condemns ‘political football’
Related-party transaction restrictions are too important to become a political football says the peak industry body which lobbied successfully for their defeat. The defeated proposals created unintended consequences, says Darren Kingdon, spokesman for Small Independent Superannuation Funds Association (SISFA). ‘These consequences included unwarranted restrictions imposed on in-specie benefit payments, which in effect may have impeded […]
SISFA is an association that has represented the interests of the self managed superannuation fund (SMSF) sector for over two decades and is the original SMSF industry body solely representing all participants in the sector including administrators, accountants, auditors, lawyers, actuaries, advisers and of course, trustees.