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Search ResultsShowing 1 - 10 of 42 results for "LRBA"
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 ...
ATO warns against SMSF property development
ELIZA BAVIN  |  WEDNESDAY, 10 JUN 2020
The Australian Taxation Office has shared its concerns about a growing number of SMSFs purchasing and investing in the development of real property. The ATO said it strongly encourages SMSF trustees who may be considering property development to seek ...
Adviser banned for five years
ELIZA BAVIN  |  TUESDAY, 26 MAY 2020
... 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 clients. "When ...
SMSFs granted annual return extension
ELIZA BAVIN  |  THURSDAY, 23 APR 2020
SMSFs have been granted an extension to the lodgement of annual returns to the ATO to June. The ATO said it made the decision in the wake of the financial effects of the COVID-19 outbreak. "The requirement for an SMSF to appoint an auditor 45 days before ...
SMSFs interrupted in 2019: SuperConcepts
ELIZABETH MCARTHUR  |  WEDNESDAY, 19 FEB 2020
In providing a technical update, SuperConcepts general manager of technical services Peter Burgess has said many of the reforms set to impact SMSFs proposed last year are still yet to eventuate. Speaking at the 2020 SMSF Association conference, Burgess ...
CFR, ATO report on SMSF borrowing arrangements
ELIZABETH MCARTHUR  |  MONDAY, 25 MAR 2019
... almost completely exclusive to SMSFs. However, they form a low proportion of SMSF assets. About 8.9% of SMSFs currently have a LRBA in place, and LRBAs hold 5.2% of total SMSF assets or 1.4% of total superannuation assets. The Government said because ...
Scrapping LRBAs would be detrimental to investors
DARREN SNYDER  |  WEDNESDAY, 7 NOV 2018
... ASIC's tough line on property spruikers who prey on the vulnerable by encouraging an unsupportable SMSF and corresponding LRBA. But to ban LRBAs entirely, thus denying many SMEs and self-employed owners the opportunity to meet their commercial and superannuation ...
Amnesty granted to employers with unpaid SG
KANIKA SOOD  |  THURSDAY, 24 MAY 2018
For 12 months starting today, employers with a history of underpaying the superannuation guarantee will have a chance to "wipe the slate clean" and clear any pile of unpaid super without copping late payment penalties from the Government, according ...
SMSFs ramp up LRBA and property allocations
KARREN VERGARA  |  TUESDAY, 1 MAY 2018
Latest ATO figures show self-managed super funds' interest in limited recourse borrowing arrangements (LRBA) and residential property assets have skyrocketed in the last five years. December 2017 quarterly data shows the sector held $31.4 billion in ...
SMSFs investing restrictions unfair: Poll
KARREN VERGARA  |  MONDAY, 16 APR 2018
... SMSFs. From 1 July 2017, an LBRA outstanding balance will be included in a member's total annual superannuation balance. LRBA principle and interest repayments from a member's accumulation account will also be credited in the member's transfer balance ...
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