Meg's Musings December - December 2019
Some of you might know that Heffron celebrated 20 years in business last year. This major milestone...
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Rules for interacting with “relatives" in superannuation
The superannuation law includes various rules SMSFs must follow when interacting with “relatives”....
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Non arm’s length income when a fund incurs non arm’s length expenses
It’s good to hear that the ATO has flagged that it is “not looking to dedicate compliance...
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How to handle 'unusual' assets in your SMSF
Originally published in "Australian Financial Review"
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SMSFs and administrative penalties
Administrative penalties are just one of the many options available to the ATO to encourage fund...
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LRBA amounts to be included in Total Superannuation Balance
Treasury Laws Amendment (2018 Superannuation Measures No.1) Bill 2019 has received Royal Assent and...
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Can my client’s trading entity be the Trustee of their SMSF?
When your client already has an established company, it is natural to ask if that company can be...
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ATO flexes muscles on lodgement deadlines - but is that really a bad thing?
The ATO updated its policies around the implication of late SMSF Regulatory returns on Wednesday -...
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ATO focusing on investment strategy diversification requirements – what do trustees and auditors need to do?
The ATO recently identified approximately 18,000 SMSFs who hold 90% or more of their assets in a...
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SMSF Death Benefits
The term “as soon as practicable” appears several times in tax and superannuation law – it’s never...
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Can an attorney under an Enduring Power of Attorney (EPOA) make or renew a binding death benefit nomination (BDBN) for a member?
Historically this question has been difficult to answer. While there does not appear to be any...
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My client has an SMSF which owns property via an LRBA. The debt has now been paid back. Is it compulsory to transfer title to the property from the LRBA bare trust to the fund?
No, but it may still be appropriate to do so depending on the fund’s future intentions. ...
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