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25/08/2020If you have funds that are still in catch-up mode or are on different deeds, talk to us about our bulk SMSF conversion program. With all your SMSFs on the one set of Governing Rules, your firm gains major risk, time and opportunity cost savings.
24/08/2020The ATO has issued draft SPR 2020/D2 which when registered will exempt SMSFs that allow a rent deferral to a related party tenant from the in-house assets ("IHA") provisions in the following situations. The transitional measure applies to the 2019-20 and 2020-21 financial years.
24/08/2020The Government's 2019-20 budget measure to increase the cut-off age (from 65 to 67 years) that super funds can accept voluntary contributions in respect of a member regardless of the work test has been implemented.
24/08/2020The ATO PCG 2016/5 sets out the "safe harbour" terms on which SMSF trustees may structure their LRBAs consistent with an arm's length dealing. Further to this, the ATO publishes annually the safe harbour LRBA rate for SMSFs. This article provides the applicable rates for 2020-21 (both safe harbour and Divison 7A benchmark interest rates), the related proposed Division 7A changes and implication for LRBAs that do not meet the safe harbour rates or other terms.