Category Archive for "Trustees"

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SMSFs & Dividend Stripping Schemes – TA 2015/1

September 29, 2016
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In early 2015, the ATO raised concerns regarding certain private company investments made by Self Managed Superannuation Funds (SMSFs) via Taxpayer Alert 2015/1.  This taxpayer alert describes arrangements whereby an SMSF intentionally invests in a private company with large accumulated…

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Business Real Property Fit-outs ~ where to draw the line

A strategy which is widely employed by self managed super funds is for the fund to acquire business real property and to then lease it back to a related party business.  Often part of this process will involve the fund…

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Auditor insights: Market Valuations within SMSFs

July 27, 2016
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To some degree there have always been scenarios where SMSF trustees have been forced to present their annual accounts using a market valuation for all assets.  For example, if a fund is in pension phase market valuation is required so…

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The Rise of the Semi-Related Investment Trust

July 11, 2016
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Whilst reviewing several thousand SMSFs ever year it is common for our auditing team to see trends in both investments and superannuation strategies.  One such trend that has been available since the inception of ‘DIY funds’ but seems to have…

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ATO false non-compliance notices

March 31, 2016
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It has come to our attention that a system error within the ATO is causing the status of many SMSF’s to be changed to be “non-complying” on Superfund Lookup. This as you can imagine, has caused a great deal of…

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My wife and I share a SMSF with our Australian resident children.  We plan to move overseas indefinitely.  Can we still be members of our SMSF?

FAQ: My wife and I share a SMSF with our Australian resident children. We plan to move overseas indefinitely. Can we still be members of our SMSF?

September 7, 2015
admin

It is possible to remain a member of your SMSF, however there are certain requirements that would need to be met in order to meet the superannuation rules. A full picture of SMSF residency issues can be found in the…

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A twist to the LRBA tale

A twist to the LRBA tale

September 1, 2015
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When is a borrowing not a borrowing? According to SMSFR 2009/2 the answer is when it is merely a “financial accommodation”. I know it sounds like a bad joke that a bunch of lawyers might chuckle over after having had…

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Does it matter if I make my pension reversionary to someone else or should I leave it as non-reversionary?

FAQ: Does it matter if I make my pension reversionary to someone else or should I leave it as non-reversionary?

August 6, 2015
admin

The question of whether to make a pension reversionary was easy to answer a few years ago as there were substantial tax advantages to such an arrangement. Before 1 July 2012, upon the death of a member with a non-reversionary…

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FAQ: Can I transfer my BHP shares into my SMSF?

August 5, 2015
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Yes, you are able to transfer your BHP shares into your SMSF as long as they are transferred at market value. Although SMSF trustees are generally prohibited from buying assets from members or related parties; an exception exists where trustees…

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FAQ: I am 45 and have just lost my job. Can I access my super to see me through until I find another job?

August 5, 2015
admin

It is common for people to start looking at their superannuation balances when under financial stress, however although it is your personal superannuation account, it is generally difficult to withdraw any benefits until retirement. For most of us, our superannuation…

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