May 20, 2016
A superannuation fund is prohibited from purchasing assets from a related party except under certain circumstances. However, section 66 (2B) (b) (i) provides an exemption which allows a trustee to acquire assets from a related party in the event of a divorce or...
May 20, 2016
For SMSFs that are in pension phase, ATO ID 2012/47 outlines that all rollovers and contributions made (regardless of the taxable or non-taxable nature of these amounts) are to be include as assessable income for the purpose of determining the available deductions for...
Feb 29, 2016
Due to the complex nature of the LRBA arrangement, there are some deliberations in regard to the costs of setting up a LRBA in the SMSF and whether they are deductible to the SMSF. The ATO has issued a private binding ruling (PBR 1012441308161) that considered this...
Oct 28, 2015
Self-managed superannuation funds (SMSFs) over the past few years have become the retirement vehicle of choice due to the flexibility that trustees have over investments and effective low tax rates. SMSFs are also an effective tool for estate planning, as it allows...
Oct 31, 2014
From 1 July 2014, not all insurance policies are allowed inside Self Managed Superannuation Funds (SMSF). The new insurance policies will only be allowed to the extent that they align with the new regulation 4.07D of the SISR. Trustees of the SMSF now must not provide...
