There’s been plenty to consider since the introduction of the super reforms post 1 July 2017 – CGT relief, the introduction of the transfer balance cap and total super balance (TSB) to name a few…From a transfer balance cap (TBC) perspective, things have been relatively straight forward with an individual’s personal TBC (‘personal cap’) aligned…
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Simple + Smart Thank you to those who joined us for our latest update webinar on 27 November 2019 regarding the BGL Smarter SMSF document integration Update. In this session, Aaron Dunn was joined by Matt Crofts, Product Manager of Simple Fund 360 to look at: New SMSF ordering Ordering a special purpose trustee company,…
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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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A relatively unknown statutory provision buried within the operating standards of the superannuation laws is section 55 of the SIS Act. This provision is relatively untested as to its scope and for an unsuspecting client or adviser, involved with the management of a superannuation fund, it has the potential power, shall we say, of a…
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Since the ATO issued letters to 17,700 trustees regarding issues with the diversification requirements, it has been interesting to observe the varying behaviours within the SMSF sector regarding this issue. For some, it has clearly been seen as an opportunity to go back and review the fund’s within their practice regarding the fund’s investment strategy…
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