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LRBAs with non-arm’s length terms: More guidance (and a warning) from ATO

Back in April this year, the ATO issued a “practical compliance guideline” regarding limited recourse borrowing arrangements (LRBAs) established by SMSFs. The guideline (PCG 2016/5) set out when the Commissioner will accept that an LRBA is structured on arm’s length terms. Following on from this guidance, the ATO has recently published further guidance on these

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ATO warns small businesses: Time running out to meet super payment compliance

The ATO has warned that time is running out for small businesses to start paying their superannuation contributions via the new and mandatory electronic standard SuperStream. The October 28 deadline is only one week away, meaning small businesses (those with 19 or fewer employees) have just one super guarantee payment date left. Assistant commissioner Nicole

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Property investment options: SMSFs versus discretionary trusts

Astute investors assess many options in choosing a structure for investment, with tax planning being one consideration among many. There are tax advantages in relation to using a discretionary family trust or a self-managed superannuation fund (SMSF). However, one question that needs to be answered by investors is: “When do you wish to realise any

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ATO takes aim at serious SMSF non-compliance

ATO takes aim at serious SMSF non-compliance. Speaking at national superannuation conference in late August, the ATO’s superannuation assistant commissioner Kasey Macfarlane highlighted a number of issues that the ATO will be taking a keen interest in over the coming year. Chief among these concerns, Macfarlane said, was the fact of serious non-compliance from SMSF

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