ATO Tags - Watkins Financial Services

SMSF Trustees who have established a limited Recourse Borrowing Arrangement(LRBA) with a loan from a related party should ensure the terms of the loan are made on an arms-length basis by 30 June 2016. Where the terms of the loan and the ongoing operation of tContinue Reading...

On 17 November 2014, the Australian Taxation Office (ATO) confirmed their stance that superannuation funds are unable to use cross-insurance arrangements. These types of strategies may have been used when trustees of a Self Managed Super Fund (SMSF) purchased Continue Reading...

The ATO has been granted a new set of powers, including the capacity to fine SMSF Trustees for compliance breaches.  Previously, when an SMSF contravened the super laws, the ATO had a limited range of options available to it to enforce compliance.  On 18 MarContinue Reading...

Superannuation Guarantee contributions (employer contributions) move to 9.25%. Pension minimums move back to normal rates. This means income generation in pension phase becomes even more important. People over age 60 can now make concessional contributions of Continue Reading...

As borrowing to purchasing property through Self Managed Super Funds (SMSFs) becomes more popular, I believe there are certain areas that need to be addressed. A particular area that I have been asked recently is can an SMSF borrow money to purchase a propertyContinue Reading...

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