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New Reporting Obligations for SMSFs

In order to support the introduction of the $1.6m transfer balance cap (TBC) from 1 July 2017, the ATO has announced new reporting obligations for SMSFs. From 1 July 2018, any SMSF that has a member’s balance with $1 million […]
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Purchasing Farmland under a Limited Recourse Borrowing Arrangement

  Case Study – Smith Superannuation Fund John Smith is the sole member of the Smith Superannuation Fund The balance of the SMSF is $1m John is interested in using a Limited Recourse Borrowing Agreement (LRBA) to borrow $300k to […]
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Auditor Reporting Guidelines

One area of discussion that can often be rather unclear is, “when are auditors required to notify the ATO of a breach in the SIS Act?” Firstly, the auditor needs to identify a contravention. This can be black and white […]
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Related Party Trusts in Breach – But Where is the breach?

Case Study – Smith Superannuation Fund John Smith is the sole member of the Smith Superannuation Fund At 30 June 2017 the fund has $1.2m in total assets (at market value) The fund owns 100% of the units in Smith […]
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Binding Death Benefit Nominations

Ever wondered what happens in the unfortunate event of a member in an SMSF passing away? There are a few different paths that the benefits can be directed to, one of which is a death benefit being paid out. A […]
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Differences in Pension and Lump Sums for members under and over 60

Taking out a pension before the age of 60 can often result in the fund being subject to higher tax rates… but not always. Taking out lump sums as opposed to pensions for members under 60 can sometimes save the […]
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LRBA Safe Harbour Rules – Compulsory?

The ATO’s release of the PCG (Practical Compliance Guideline) 2016/5 outlines the safe harbour rules for SMSF related party limited recourse borrowing arrangements (LRBAs). These safe harbours detail the interest rates, debt-to-equity ratios and other terms that are required for […]
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Are Pension minimums required in the year of Death?

A question we come across from time to time, the answer to which depends on the specific details in the pension documents. A pension will cease upon the death of a member, however this does not necessarily mean that pension […]
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Actuary Post CGT Relief – Required or Not?

With the super reforms and transfer balance caps now in place, consideration for SMSF’s and the planning and structure of members accounts is now at its utmost importance. In our blog CGT Relief, the ability to utilise CGT relief can […]
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