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.
SMSFs
Consequences of refunding excess dividend imputation credits
The good, the bad and the unintended consequences of 18 years of refunding excess dividend imputation credits. The debate about dividend imputation credits and how they are dealt with as part of our taxation system looks like it will be here to stay to at least the next Federal election.
ATO sets deadline for SMSFs with non-commercial LRBAs
The ATO has effectively given SMSFs with non-commercial LRBAs a period of grace to either restructure the terms of the arrangement so that they are on commercial terms or to wind up the arrangement. The period of grace ends on 30 June 2016. It seems the ATO is adopting a “we will not ask” and “you […]
Poor documentation puts SMSFs at risk of extra tax
The peace of mind of a retiree happily taking a pension from their SMSF could be shattered by the news that their pension was in fact not commenced properly and both they and their fund owe the tax office a lot more money. This is a real prospect if SMSF trustees and their advisers don’t […]
Legislative changes to Victorian Enduring Power of Attorney
Thinking of making an enduring power of attorney? Be aware that there has been some recent changes to the law for enduring powers of attorney made in Victoria since 1 September 2015. Nothing needs to be done in relation to existing enduring powers of attorney as these are grandfathered under the new legislation and remain […]
Uber SMSFs ($10m plus in asset value) are very hard to build now
The problem with capping the amount of super which can enjoy tax free earnings in “pension phase” is that it is a solution to a legacy problem which is not likely to have in the future. Before July 2007 there were limits on the amount of benefits which could be taken on a concessionally taxed […]
ASIC now allowing SMSFs access to wholesale investment products
Until recently SMSFs couldn’t buy wholesale financial products because ASIC had held they were retail investors unless they had at least $10 million of net assets. ASIC has recently announced that it will loosen the constraints on SMSFs investing in wholesale products and make the test for eligibility easier to meet. “It is somewhat curious […]
Australian investors could be missing out on potential international returns
Australian investors including SMSF’s who remain significantly under-exposed to global stocks may be missing out on better value and growth stories not easily available on the ASX The big-four banks plus BHP, RIO, News Corp, Telstra, Wesfarmers and Woolworths account for around $900 billion (or a whopping 60%) of the total market. Diversifying a portfolio […]