The Australian Taxation Office (ATO) is cracking down on the number of self-managed super funds (SMSFs) with outdated trust deeds. An outdated deed can prevent an SMSF from establishing pensions, accepting contributions or investing under a limited recourse borrowing arrangement (LRBA), depending on when the deed was last reviewed. It is very important that the
The Australian Taxation Office (ATO) has recently found that self-managed super fund (SMSF) trustees are being approached to invest in arrangements that breach the sole purpose test and therefore super laws. The ATO has warned that they are “closely scrutinising” this ongoing activity. Some individuals and organisations are promoting arrangements where funds from SMSF’s are
Everyone wants to be organised when planning their financial affairs for retirement. There are many types of structures that people can use including family trusts, self-managed superfunds (SMSFs) and commercial super funds. Family trusts can be overlooked in favour of SMSFs as a way of managing wealth due to the perception that they are overly
