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19/11/2019The ATO has initiated a review of SMSFs which hold 90% or more of the fund's assets in a single class of investments. Apparently, the ATO is using the 90% threshold as a means of identifying SMSFs which may have an inappropriate investment strategy. Inappropriate in this context means lack of diversity.
19/11/2019Often a member of a superannuation fund (whether self managed, industry or retail superannuation fund) will want to provide for their spouse and, if the spouse should predecease them to their children and, if one of the children predeceases them, to the issue of the deceased child; that is, their grandchildren.
19/11/2019Legislation has now been enacted to include a member's share of any LRBA borrowing in their total superannuation balance. This measure is described by the Government as an "Integrity Measure" as it is intended to address two mischiefs arising from the interaction between LRBAs and the non-concessional contribution cap.
19/11/2019The process of probate may seem straightforward but, depending on the complexity of a client's estate plan, along with family dynamics, it is not always easy to navigate. Rely on us as experts to provide you with the right guidance. Here we cover some of the frequently asked questions about probate.
19/11/2019The Gearing Handbook e-Guides have now been updated to cover the LRBA Integrity Measures being inclusion, in respect of certain LRBAs, of the loan amount as at 30 June in the calculation of the total superannuation balance of participating members and the change to the definition of non-arm's length income.