Changes to APRA standards have moved the goal posts for SMSFs borrowing to buy real estate. The problem is we’re late in the second half.
SIS Act
Auditor says ‘safe harbour’ terms are mandatory – what now?
Would an SMSF trustee decision not to adopt the safe harbour terms from the ATO’s Guidelines in relation to a related party loan breach the Superannuation Industry (Supervision) Act SIS (Act)?
Can an SMSF invest in bitcoins?
Investing in bitcoins may not be a prudent SMSF investment, especially for those approaching retirement age, where stable income-generating assets and minimal risk of significant capital loss are important. But there may be a role for bitcoin as part of an otherwise appropriate strategy.
Can an SMSF invest in gold?
A recent client enquiry led us to take a closer examination of the types of assets an SMSF can invest in. The enquiry concerned the acquisition of gold as an allowable investment under superannuation laws. To ascertain whether an SMSF can invest in gold, we firstly need to look at legislation governing SMSFs. These are: […]
Court holds non-lapsing BDBN not binding
An application by the Trustee of a public offer fund that a non-lapsing BDBN made by a member of the fund was not binding on the Trustee due to the subsequent occurrence of a disqualifying event has been upheld by the NSWSC. The trust deed specified that the nomination was only binding if the Trustee […]
Bros, sisters, mums and dads … and cousins?
It is important to be aware of what your fund can and cannot do, and with whom.
SMSF Trustee fined $40,000 for 30 separate breaches of SIS Act; ordered to pay $14,000 in costs
SMSF Trustee fined $40,000 for 30 separate breaches of SIS Act and ordered to pay $14,000 in costs.
Two recent cases on parent-child interdependency
While a child is necessarily a dependant (for the purposes of the SIS Act) of their parent, a parent is not necessarily a SIS Act dependant of their child. A parent could be a dependant of their child if the parent is either financially dependent on the child or if they have an interdependency relationship […]