The Australian Taxation Office (ATO) has recently updated their questions & answers section on limited recourse borrowing arrangements (LRBA) where an SMSF has sought loan repayment relief to confirm that any adjustment to the loan to capitalise interest will not amount to a replacement of the existing LRBA loan contract. Where temporary repayment relief has…
The National Cabinet in April 2020 introduced the Mandatory Code of Conduct for commercial tenancies (“the Code”) that provided a set of good faith leasing principles for landlords and their tenants to use for negotiations. The specifics of the Code was required to be legislated at a state level, where for example the Victorian Government…
As practitioners start to undertake the completion of the financials and SMSF Annual Return for the year ended 30 June 2020, many pension members are likely to have withdrawn more than the temporary 50% reduced minimum pension for the 2019/20 as a result of this amended legislation only taking effect from 24 March 2020. It…
Earlier in this year as most Australian’s we were through the first stage of the coronavirus pandemic (COVID-19) we saw the Treasurer, Josh Frydenberg announce temporary regulatory relief in respect of online meetings and the electronic execution of documents for a further six months. You can read more about these announcements in our previous blog…
The Federal Government has announced an extension to the ability for an individuals who are still financially impacted by the COVID-19 pandemic to have more time to apply for the early release of up to $10,000 of superannuation, with the application period extended from 24 September 2020 to 31 December 2020. The announcement was part…
