With recent enactment of Treasury Laws Amendment (2018 Superannuation Measures No. 1) Act 2019, we have seen important changes made to the operation of the non-arm’s length income (NALI) provisions that now apply retrospectively from 1 July 2018. In this first blog post on the topic, we are focusing on the issue of non-arm’s length…
Since the release of the ATO’s letter to 17,700 trustees regarding concerns of the diversification requirement within their fund’s investment strategy, we have seen a significant level of activity and discussion around this topic… and in many respects that a good thing. Let me explain why… A view held by the Regulator is that some…
The Australian Taxation Office (ATO) is about to write to approximately 17,700 SMSFs to highlight their concerns that the fund may hold more than 90% or more of its assets in one asset, or a single asset class. From this evidence, the letter from the Regulator raises the issue that the fund may be at…
The Australian Taxation Office (ATO) has provided valuation guidelines for SMSFs to comply with since the introduction of the market valuation requirements in SIS Reg. 8.02B from the 2012-13 financial year. When trustees follow the guidance provided within the ATO framework for market valuations, the Regulator will generally accept the valuation provided. However, they may…