News : LRBA

LRBA, SMSF, Strategy, Superannuation

Maintain LRBA single-asset treatment

Shares purchased under an LRBA should be treated as single asset regardless of what happens to them while they are held by an SMSF investor.

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LRBA, NALI/NALE

Review related-party loans with new rates

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, safe-harbour interest, related-party loans, non-arm’s-length income, NALI, SMSF Alliance, David Busoli

The release of the latest safe-harbour rates is a reminder SMSFs need to update any related-party loan details if they want to avoid NALI.

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Compliance, LRBA, SMSF, Trusts

Avoid LRBA structure short cuts

A bare trust should be the first and only option in which to house an LRBA-purchased asset as lenders and lawyers will reject other structures.

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Auditing, LRBA

Auditors must still check LRBA offsets

ADI, ASF Audits, ATO, Auditors, Authorised Deposit-taking Institution, limited recourse borrowing arrangement, LRBA, management letter, non-ADI, offset accounts, self-managed super, Self-managed superannuation fund, Shelley Banton, SMSF

Recent ATO comments on LRBAs with offset accounts have changed little for auditors, who must check them as part of their reports.

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LRBA

Safe harbour changes require action

SMSF, self managed superannuation fund, self managed super, related-party, limited recourse borrowing arrangement, LRBA, documentation, safe harbour rates, Accurium, Mark Ellem, NALI, ITAA 1997, ATO, PCG 2016/5, loan, interest rate, repayment

A change in the safe harbour rate for related-party LRBAs will require prompt action after the start of the new financial year.

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Division 296, LRBA, SMSF, Superannuation, Tax

LRBA carve-out inconsistent

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, limited recourse borrowing arrangements, LBRA, total super balance, TSB, Division 296, superannuation earnings, DBA Lawyers, Bryce Figot, $3 million threshold, explanatory memorandum

Plans to carve out LRBAs from the total super balance figures used to calculate Division 296 tax highlight the irregularities around their inclusion within TSBs.

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LRBA

Bare trust restricts asset treatment

Bare trust, limited recourse borrowing arrangement, LRBA, loan SIS Act, ASF, Shelley Banton, single acquirable asset, SMSF, self-managed super, self-managed superannuation, charge over an asset, related party, PCG 2016/5

Certain restrictive conditions will apply to an asset that is left in a bare trust after an LRBA has been paid off.

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