Self Managed Super Funds

ATO Rates And Thresholds

By Warren Kruger / August 15, 2019 / 0 Comments

  | | | The ATO has updated a number of rates and thresholds on their website, including the following.   Division 7A – Benchmark Interest Rate The Division 7A benchmark interest rate for the 2020 income year is 5.37% (up from the rate for the 2019 income year of 5.20%).  Car Cost Limit For […]

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ATO Assets Crackdown – Lifestyle Assets Data Matching Program

By Warren Kruger / July 13, 2019 / 0 Comments

  | | | The ATO has released details of their “Lifestyle assets 2013-14 and 2014-15 financial years data matching program protocol”. They will obtain information on insurance policies for certain classes of assets, including marine vessels, enthusiast motor vehicles, thoroughbred races horse, fine art and aircraft to improve their profiling of taxpayers and provide […]

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Carrying on a Business Through Your Self Managed Super Fund

By Warren Kruger / November 20, 2018 / 0 Comments

Under the regulations, self-managed super funds (SMSFs) are not prohibited from carrying on a business, however the business must be: allowed under the SMSF’s trust deed, and operated for the sole purpose of providing retirement benefits for fund members. Note however that the rules governing SMSFs prohibit or limit some activities available to other businesses, […]

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Will New Limited Recourse Borrowing Arrangments Rules Stymie Your SMSF Contribution Plans?

By Warren Kruger / September 21, 2018 / 0 Comments

An “integrity” measure, which aimed to stop SMSF trustees from manipulating their total superannuation balance in order to keep below the $1.6 million threshold, may have the unintended outcome of reducing the appeal of Limited Recourse Borrowing Arrangements. Legislated changes to limited recourse borrowing arrangements (LRBAs) in regard to calculating an SMSF member’s total superannuation […]

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How to Deal with SMSF Trustee Disputes

By Warren Kruger / August 7, 2018 / 0 Comments

Everyone goes through the odd rough patch in their relationships with one another and SMSF trustees are no different. However the ramifications of a dispute between trustees are likely to have more wide ranging affects than the average quarrel between friends because SMSF trustees have vested interests, established duties and legal responsibilities towards the fund, […]

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The Proportioning Rule and Your SMSF: It’s all About Balance

By Warren Kruger / June 17, 2018 / 0 Comments

When calculating a super benefit, it is necessary to identify and determine the value of the various components that make up the benefit. The law around superannuation dictates that the tax-free component and taxable components of a member’s payment must be paid in the same proportion as the tax-free and taxable components of the member’s […]

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