News : Property

Property

Property valuations need proof of ownership

smsf property valuations

SMSF trustees must be able to prove property assets are held on behalf of their fund and not by them personally to avoid breaches and penalties.

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Estate Planning, Property

Limited consideration of property at death

SMSF property death benefit

Non-specialist SMSF advisers are not considering how to treat property as a death benefit.

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ATO, Property

Valuation guidance confusing

ATO SMSF valuation guidance

The ATO’s guidance on SMSF property valuations is giving auditors no comfort from either a practical or compliance perspective.

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Property

FHSSS slightly more attractive

super saver scheme

The First Home Super Saver Scheme may have more appeal for some given the reduction in minimum deposits on home purchases included in the budget.

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Property, Tax

Payment type irrelevant for property sale CGT

property transactions CGT

Large-value property transactions must clear CGT withholding rules regardless of whether they are made in cash or in specie.

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Investments, Property

DomaCom hits investment milestone

DomaCom investment fund

DomaCom’s flagship investment fund has passed the $100 million milestone, with SMSFs a key driver in its growth.

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Property, Superannuation

Property focus for six member funds

six-member SMSFs property

The take-up of six-member SMSFs is initially coming from families looking to invest and develop in capital intense property projects.

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Investments, Property

Maximising opportunity in property investment

fractional property investment

If rising residential property prices are a concern, fractional investments can be a risk mitigation strategy even if you own a property.

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Contributions, Property

Time to alert clients about downsizer changes

downsizer contribution

Clients approaching their 60th birthday should be alerted to pending changes to downsizer contributions and the need to reconsider the timing of any property transactions.

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Financial Planning, Property

COVID issues key adviser concerns

advisers COVID relief

COVID relief measures for SMSFs and the use of property have been key areas of concern for advisers in the past quarter.

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