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Showing 11 - 20 of 69 results for "Limited recourse borrowing arrangement"

SMSFA chief slams regulators, FASEA

ALLY SELBY  |  FRIDAY, 24 JAN 2020
SMSF Association chief executive John Maroney has slammed ASIC for a fact sheet published and distributed to SMSF trustees last year. During a speech at a Pritchitt Partners event in Sydney, the SMSFA chief also took aim at FASEA and the ATO. Maroney ...

Former Apogee, GPS Wealth advisers banned

JAMIE WILLIAMSON  |  THURSDAY, 7 NOV 2019
... 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 of the clients ...

ATO warns of SMSF concentration risk

KRISTI CHENG  |  WEDNESDAY, 14 AUG 2019
The Australian Tax Office is set to contact tens of thousands of SMSFs warning of the risks of being too concentrated. The ATO announced it will be contacting around 17,700 SMSF trustees and auditors at the end of the month who they suspect may be holding ...

Former Gold Coast adviser banned

HARRISON WORLEY  |  MONDAY, 3 JUN 2019
ASIC banned a former authorised representative of the now-defunct Austplan after clients were found to have been placed in a vulnerable financial position as a result of his advice. Gold Coast financial adviser Daniel Renneberg is banned from providing ...

Industry responds to election outcome

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
The financial services industry has welcomed the surprise Coalition victory, viewing the result as business as usual. In a shock result to many, the Coalition defeated Bill Shorten's Labor Party in the Federal election over the weekend. In response ...

CFR, ATO report on SMSF borrowing arrangements

ELIZABETH MCARTHUR  |  MONDAY, 25 MAR 2019
A 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
... member's total superannuation balance by their share of the outstanding balance of a limited recourse borrowing arrangement if commenced after 1 July 2018. This increase would apply to SMSF members who have full access to their superannuation or ...

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 ...

SMSFs seek offshore diversification

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
SMSF investment in international managed funds, ETFs and direct shares continues to climb as exposure to cash and term deposits drops. Latest analysis from SuperConcepts shows allocations to international investments rose by 1.3% in the 12 months to ...

Former Westpac adviser ban upheld

KARREN VERGARA  |  FRIDAY, 14 SEP 2018
ASIC's banning of a former Westpac financial adviser has been upheld by the Administrative Appeals Tribunal. Last July, the corporate regulator banned Jason Atkins from providing financial services for three years. Perth-based Atkins provided advice ...