The evolution of the SMSF Foundation course into the SMSF Essentials represents a strategic and forward-thinking response to the dynamic landscape of self-managed superannuation funds (SMSF) education. The decision to rebrand stems from a comprehensive assessment of the course’s effectiveness and its alignment with the needs of learners in the domain of SMSF. With…
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Limited recourse borrowing arrangements (LRBAs) are popular within self-managed super funds to acquire both residential and commercial property using the exception to the general borrowing prohibition within sections 67A & 67B of the SIS Act 1993. Generally, we are aware that the conditions under which the fund trustee may undertake and maintain a limited-recourse loan…
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We’re making some changes to our PAYG document fees from 1 July 2023. We believe in transparency, so we want to let you know what’s changing and why it’s happening. Why is this happening? As part of our mission to help professionals cost-effectively deal with the complexities of SMSFs, we continue to add documents…
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The ATO has provided further information on the reporting in certain circumstances of a member’s Accumulation Phase Value within the Transfer Balance Account Report (TBAR). SMSFs will need to provide an accumulation phase value (APV) on a transfer balance account report (TBAR) for 30 June 2017 in certain circumstances. APV is a component of a…
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The tax concessions afforded to complying super funds, including SMSFs are subject to strict residency criteria. Failure to comply can lead to significant penalties being taxed against both the assets and income of the fund. Three tests exist in determining whether a SMSF is an Australian super fund, including that: The fund was established in…
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