News : Property

Property

Property upgrade funding tricky

Related party Accurium Mark Ellem SMSF Self-managed super commercial property improvements

Having a related-party tenant of an SMSF commercial property pay for improvements to the asset can pose a real risk of breaching the SIS Act.

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LRBA, Property

No LRBA changes for property upgrades

Limited recourse borrowing arrangements LRBA Self-managed superannuation SMSF capital improvements rental properties petition Jim Chalmers

The government will not change the existing rules on using limited recourse borrowing arrangements to allow for energy-efficient improvements on rental properties.

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Property, Tax

GST a must for high-yield properties

GST Goods and services tax Yield Commercial property Registration

SMSFs holding commercial property generating over $75,000 in rent must register for GST, while those not required to should carefully assess the benefits and costs of doing so.

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ATO, Compliance, Property, SMSF

Dig deep for commercial valuation data

Commercial property Qualified valuer's report Valuations

While a qualified valuer’s report is preferred for commercial property valuations, trustees can use objective data from alternative sources if they choose not to obtain one.

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Investments, Property, SMSF

Key risk and return questions for private credit

Zagga Private credit Alan Greenstein Mortgage security

There are some critical elements relating to private credit investments that need to be known to ensure the expected return outcomes eventuate.

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Auditing, Property, SMSF

Why a written lease agreement is essential

SMSF Auditor Written lease agreement property Self-managed superannuation Related parties ATO Reliance Auditing Services Naz Randeria

A written lease agreement is a vital document for SMSFs holding a direct property, particularly in cases where the tenant is a related party.

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Auditing, Compliance, Property, SMSF

Overseas property carries audit risk

SMSF auditors should always signal to the ATO their concerns over funds invested in overseas property which cannot provide suitable ownership data each year.

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Auditing, Compliance, Documentation, Property, SMSF

Act now on property valuation data

Comparable sales data Property valuations Asset valuations SMSF Self-managed superannuation Auditor Tactical Super Deanne Firth

To comply with ATO guidelines and auditor requirements, SMSF practitioners should secure up-to-date sales data for property valuations as soon as possible.

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Investments, Property, Regulation, SMSF

Local law limits overseas property exposure

Direct property SMSF Self-managed superannuation Overseas property 13.22C entity In-house assets

While SMSFs can invest in property overseas, Australian laws may consider such an action a breach of trustee obligations and caution should be exercised.

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Insurance, LRBA, Property, SMSF

LRBA insurance payments not linear

LRBA Life insurance SMSF Business real property

SMSFs holding life insurance to cover liabilities from an LRBA should be aware any benefits from the policy may not actually be applied to the arrangement.

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