With the Federal Government’s changes to superannuation all but certain, including the taxation of unrealised gains, self-managed super funds (SMSF) should start preparing for a shift in the compliance environment, particularly around the reporting and valuation of...
With the introduction of Division 296 all but certain, SMSF Trustees should prepare for a shift in the compliance environment, particularly around the reporting and valuation of fund assets. While Division 296 will target superannuation earnings on funds with balances...
In order for a SMSF to enter into an investment with any parties without contravening the Superannuation Law, it is imperative that the SMSF trustee determines whether the investment transaction is entered into with a related party of the SMSF. This is because the law...
Zero-interest loans have been a bit of a grey area for a long time. Previously, borrowing from a related party at zero interest rates has not been frowned upon by the ATO. The ATO was primarily concerned about loans from related parties, made at higher than commercial...
When a Self-Managed Super Fund (SMSF) lends money to members or their related parties, the loan constitutes as an in-house asset of the fund. However, it is not necessary that the fund has contravened Section 65 of the SIS legislation. The Australian Taxation Office...
