Where a fund has entered into a limited recourse borrowing arrangement (LRBA) with a related party that is utilising the safe harbour set out in PCG 2016/5, the interest rate is required to stay in line with the published rate each year by the Australian Taxation Office (ATO). The rate utlised by the ATO is…
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We’ve had a significant amount of interaction across our membership and users more broadly of the Smarter SMSF platform about the temporary use of digital signing around SMSF deeds, including for fund establishment, deed upgrades, change of trustees, LRBAs and more. In a previous blog post we explored the measures that provided temporary relief for…
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The publication of draft Law Companion Ruling, LCR 2019/D3 Non-arm’s length income – expenditure incurred under a non-arm’s length arrangement was certainly the most controversial topic impacting the SMSF sector over the past 12 months, with this legislative interpretation bringing into focus a range of circumstances that aim to clarify the distinction between personal and…
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There was a point in time earlier this year due to the coronavirus pandemic, that the proposed changes from 1 July 2020 to increase the age limit to make contributions would not take effect as intended. However, we have now seen Superannuation Legislation Amendment (2020 Measures No. 1) Regulations 2020 registered, in which makes amendments…
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We understand that many people are struggling through the impact of the Government’s economic response to the coronavirus pandemic (COVID-19). It may be that they require dipping into their super fund to access an early release amount on compassionate grounds due to COVID-19, have been impacted by an inability of a tenant (related party or…
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