Self Managed Super Funds

SMSFs May Be Able To Offer Rental Relief To Related Party Tenants

By Warren Kruger / May 19, 2020 / 0 Comments

  | | | As a result of the financial effects of the COVID-19 pandemic, some self-managed superannuation funds (‘SMSFs’) which own real property may want to give a tenant – who is a related party – a reduction in rent because the related party tenant has had a collapse in revenue. Charging a related […]

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SMSs for SMSFs!

By Warren Kruger / December 21, 2019 / 0 Comments

| | | In the interests of protecting SMSF members and their retirement savings from fraud and misconduct, the ATO has announced it will send out an email and/or a text message via an SMS when changes (including updates to the SMSF financial details or member information) are made. Accordingly, the ATO has urged all […]

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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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