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Showing 11 - 20 of 76 results for "Limited Recourse Borrowing"

SMSFs given small LRBA win

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
Self-managed super funds that borrowed from a private company under a limited recourse borrowing arrangement (LRBA) will not suffer adverse tax consequences if the loan interest has been capitalised because of COVID-19. This recent announcement by the ...

Adviser banned for five years

ELIZA BAVIN  |  TUESDAY, 26 MAY 2020
... Mercantile Group from July 2019 to January 2020. ASIC said Lewis advised most of his clients to use a Limited Recourse Borrowing Arrangement (LRBA) to fund the purchase of real property through a SMSF. ASIC said Lewis also gave insurance advice to all ...

SMSFA chief slams regulators, FASEA

ALLY SELBY  |  FRIDAY, 24 JAN 2020
... of the superannuation system is the exposure to both commercial and residential property, often via limited recourse borrowing arrangements," Maroney said. "The SMSF sector's exposure to these asset classes is reviewed regularly by the Council of ...

Former Apogee, GPS Wealth advisers banned

JAMIE WILLIAMSON  |  THURSDAY, 7 NOV 2019
... all of them to establish a self-managed superannuation fund or use an existing SMSF and to then use a limited recourse borrowing arrangement to purchase a property. In doing so, Khaw failed in his duty to implement a strategy that was in the best interests ...

ATO warns of SMSF concentration risk

KRISTI CHENG  |  WEDNESDAY, 14 AUG 2019
... of their funds in one asset or a single asset class. Many of the SMSFs in the ATO's sights have limited recourse borrowing arrangements in place, with most of the almost 18,000 SMSFs holding most of their assets in property. "We're concerned ...

Former Gold Coast adviser banned

HARRISON WORLEY  |  MONDAY, 3 JUN 2019
... act in the best interests of clients, ASIC said. "He has advised some clients to set up SMSFs with limited recourse borrowing arrangements that were completely unsuitable and placed his clients in a vulnerable financial position," ASIC said. The regulator ...

Industry responds to election outcome

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
... aged over 65 but under 66 and an increase in the age limit for spouse contributions from 69 to 74. Limited recourse borrowing arrangements will remain available but be counted against the total super balance in some circumstances; the actuarial certificate ...

CFR, ATO report on SMSF borrowing arrangements

ELIZABETH MCARTHUR  |  MONDAY, 25 MAR 2019
... new report by the Council of Financial Regulators (CFR) and the Australian Tax Office (ATO) has found limited recourse borrowing arrangements in SMSFs are not a risk to the financial system. The report by CFR and ATO was commissioned by the government ...

Macquarie axes SMSF residential property loans

ELIZABETH MCARTHUR  |  THURSDAY, 21 MAR 2019
... Australia Bank stopped offering SMSF loans for residential property in 2015. Banks have phased out these limited recourse borrowing arrangements under some political pressure. The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 ...

Scrapping LRBAs would be detrimental to investors

DARREN SNYDER  |  WEDNESDAY, 7 NOV 2018
A commercial property lender believes banning limited recourse borrowing arrangements in their entirety would be too heavy handed, saying critics often cite residential property spruikers to cast shadows. Thinktank chief executive Jonathan Street said ...