A number of recent private binding rulings released by the ATO concern limited recourse borrowing arrangements (LRBA) related party loans and appear to have foreshadowed dire tax implications for such arrangements which may be found to have uncommercial loan terms. Of most concern is the ATO’s warning that income generated from a LRBA may be […]
SMSFs
When does Superstream apply to SMSFs?
The introduction of Superstream to employer contributions made to SMSFs will be staggered over two years.
SMSFs miss global stocks’ upside, fund manager warns
SYDNEY September 2013 – SMSFs are missing the upside of global stocks because they do not invest offshore due to the cumbersome and expensive process, a leading wealth builder has warned. ‘One of the reasons that SMSFs don’t invest much in offshore stocks is because it is fairly cumbersome and expensive to do so,’ says […]
ATO asset ruling to hit SMSFs and APRA funds
SYDNEY September 2013 – Both APRA-regulated super funds and SMSFs will be hit with the ATO’s latest asset ruling, with SMSFs feeling it ‘more keenly’. Michael Hallinan special counsel superannuation Townsends Business & Corporate Lawyers says the ATO’s draft determination on asset segregation supporting pension payments will apply to both MSFs and APRA-regulated funds, but ‘its […]
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 […]
Related Party Loans to SMSFs: ‘Show me the money’
Townsends Lawyers are finding that some trustees are ignoring the rules on SMSF borrowing from related parties and treating it as a paper transaction rather than a real loan.