This article examines in detail whether automatically reversionary pensions are still an appropriate SMSF succession planning strategy in view of recent super reforms especially the $1.6m balance cap proposal that... read more →
There can be compelling reasons why one might want to share a self managed superannuation fund (SMSF) with others. However sharing an SMSF with a spouse (especially a second... read more →
The ATO have released important information detailing interest rates, loan-to-value ratios (‘LVRs’) and other terms that constitute safe harbours for SMSF limited recourse borrowing arrangements (‘LRBAs’) so that arrangements will... read more →
A desire for some people who exit large funds and start a new SMSF is to leave a portion of their superannuation in the large fund. This is often... read more →
Through ATO ID 2015/27 and ATO ID 2015/28 the ATO seem to have cemented their position in relation to the application of s 295-550 of the Income Tax Assessment Act... read more →
All newly acquired investments by SMSF trustees in collectables and personal use assets since 1 July 2011 have been subject to strict rules under reg 13.18AA of the Superannuation Industry... read more →
The Federal Parliament recently passed legislation which affects the tax treatment of limited recourse borrowing arrangements. The Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (Cth) (‘Act’)... read more →
A unit trust is a popular structure to hold property and other investments. Many publicly offered managed investments fund are structured as a unit trust to allow multiple investors to... read more →
A new Federal Court case underscores the continuing relevance of pecuniary penalties under the civil penalties regime to the ATO’s enforcement toolkit. Facts of the case The facts in Deputy... read more →
We are pleased to announce that an existing self managed superannuation fund (‘SMSF’) with members over 55 years of age has been added to the recognised overseas pension scheme (‘ROPS’)... read more →
Self-managed super funds (SMSFs) are the largest and fastest growing super sector in Australia and for many good reasons. But before you start an SMSF, it’s important to weigh up... read more →
The compliance requirements for SMSFs at end of financial year are extremely stringent, and it is important for trustees to be acutely aware of their responsibilities. Of course, your accountant... read more →
Munro v Munro [2015] QSC 215 is the latest case involving a binding death benefit nomination (‘BDBN’) that was held not to be binding. This case is a very important... read more →
Knowing exactly what needs to be considered before getting your asset allocation right inside (or outside!) a Self-Managed Super Fund (SMSF) is not just a smart move in terms of... read more →
Once it is clear that an SMSF has run into problems, it seems counter intuitive to some trustees to assist the ATO in investigation or in prospectively rectifying issues. However,... read more →
Introduction The question seems simple enough — what should you do when the trust deed for a self-managed superannuation fund (‘SMSF’) is lost? The answer to this question is becoming... read more →
Treasury released draft legislation recently that will impact limited recourse borrowing arrangements. For full details see http://www.treasury.gov.au/ConsultationsandReviews/Consultations/2015/Look-through-treatment-for-instalment-warrants We consider the major changes for SMSFs and limited recourse borrowing arrangements. Background Naturally,... read more →
Introduction The recent decision of Deputy Commissioner of Taxation v Lyons [2014] FCA 1353 provides various insights for SMSF trustees, as explained in this article. Facts of decision On 6... read more →
In this article, we look at the liquidity risk associated with holding fixed property in SMSFs, as well as some of the factors to consider when investing in these types... read more →
Two ATO Interpretive Decisions (ie, ATO ID 2014/39 and ATO ID 2014/40 both published on 12 December 2014) address the question: Will ordinary or statutory income derived by an SMSF... read more →