News : In-house assets

Compliance, In-house assets, Investments, Regulation

Related-party challenge recognised

ATO Paul Delahunty Related parties In-house assets Part 8 associates

The difficulty trustees may have in complying with the related-party rules has been noted by the ATO in the context of the total number of SMSF members.

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Administration, Commercial Property, Compliance, In-house assets, LRBA, Property, SMSF

Dual-use properties a compliance risk

SMSF business real property in-house asset

SMSF trustees must use acquired business real property solely for the purposes of operating a business to avoid triggering in-house asset rules.

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Compliance, In-house assets, LRBA

Loan key to holding trust asset

LRBA gearing strategy

An LRBA of any magnitude should be used for compliance purposes if an associated holding trust has acquired the asset in question.

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In-house assets

Exercise caution with in-house asset exemptions

SMSF property development in-house asset related parties

Trustees should be wary of relying on exemptions in the SIS Act to avoid a property development project becoming an in-house asset.

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In-house assets, LRBA, Trusts

Trusts not an ownership workaround

trusts SMSF assets

Trustees must ensure they are registering assets purchased on behalf of SMSFs in the fund’s name and refrain from using trusts as a measure to compensate for poor documentation.

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In-house assets

SMSF loans go beyond in-house assets

SMSF loan in-house asset

When SMSF trustees are looking for their fund to make a loan to their business, advisers must look beyond the in-house asset rules for compliance purposes.

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