News : SMSF

Property, SMSF

Locked-in lease agreements acceptable

Lease agreements with a related party that lock in terms are unlikely to cause compliance problems if they reflect conditions offered to third parties.

Lease agreements with a related party that lock in terms are unlikely to cause compliance problems if they reflect conditions offered to third parties.

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CSLR, financial advice, SMSF

SMSF Association rejects CSLR proposal

The SMSF Association has labelled the options laid out for SMSF trustee inclusion in the CSLR as inappropriate.

The SMSF Association has labelled the options laid out for SMSF trustee inclusion in the CSLR as inappropriate.

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financial advice, Financial Planning, SMSF, Superannuation

SMSF inclusion in CSLR funding proposed

A new consultation paper from Minister for Financial Services Daniel Mulino has outlined options for SMSFs to be included in CSLR funding.

A new consultation paper from Minister for Financial Services Daniel Mulino has outlined options for SMSFs to be included in CSLR funding.

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Division 296, SMSF, Superannuation, Tax

Div 296 for deceased members unworkable

Creating an open-ended period in which to claw back Division 296 from deceased superannuants would be overly complex and probably unworkable.

Creating an open-ended period in which to claw back Division 296 from deceased superannuants would be overly complex and probably unworkable.

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SMSF, Trusts

The forgotten Reg 13.22C rule

Trustees looking to enjoy the benefits of a SIS Regulation 13.22C trust must take into account all of the rules pertaining to these structures.

Trustees looking to enjoy the benefits of a SIS Regulation 13.22C trust must take into account all of the rules pertaining to these structures.

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Division 296, Documentation, SMSF, Tax

Div 296 process appears to be clunky

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear.

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear.

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ART, ATO, SMSF

Repayment can’t fix prohibited loan

The ART has ruled that repaying a prohibited loan to a member is insufficient grounds for the ATO to avoid or overturn disciplinary action.

The ART has ruled that repaying a prohibited loan to a member is insufficient grounds for the ATO to avoid or overturn disciplinary action.

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financial advice, Financial Planning, SMSF

Professional support goes beyond set-up

The assumption should not be made that people who establish an SMSF without financial advice will run their fund devoid of any professional support.

The assumption should not be made that people who establish an SMSF without financial advice will run their fund devoid of any professional support.

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Division 296, SMSF, Superannuation, Tax

Division 296 can catch exiting members

Members leaving an SMSF will not escape the reach of Division 296 if the fund passes the $3 million threshold in the same income year they depart.

Members leaving an SMSF will not escape the reach of Division 296 if the fund passes the $3 million threshold in the same income year they depart.

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Division 296, SMSF, Superannuation, Tax

Div 296 pushes certificates to fore

Actuarial certificates will play a key role in determining how much SMSF members will pay under the Division 296 tax.

Actuarial certificates will play a key role in determining how much SMSF members will pay under the Division 296 tax.

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