Super Archive

SMSFs – property development & limited recourse borrowing

There appears to be growing enthusiasm amongst some advisers to recommend that their clients undertake property developments in their SMSFs, using limited recourse borrowing for finance. The basis for that recommendation appears to be that there are arguable grounds for doing so and the fact that the ATO has not expressly prohibited SMSFs from doing […]

Directors’ Penalties – ATO on the warpath

You may have seen the article in the Australian Financial Review today (24 April 2013) warning directors that the Tax Office is now pursuing an aggressive policy of sending penalty notices to directors making them personally liable for their company’s unpaid PAYG and superannuation.  The article alerts readers to the fact that since 30 June […]

Binding Death Benefit Nominations for your super fund – what you need to know

Unless the super fund entitlements arising on your death (Death Benefits) are properly dealt with, your Will cannot direct to whom those Death Benefits will pass. Usually the super fund deed gives the trustee a broad discretion as to how a member’s entitlements can be dealt with on that member’s death. However the trustee’s view […]

Beware the pitfalls of super fund borrowing

Borrowings by self-managed superannuation funds (SMSFs) to purchase investment properties and other assets have become increasingly popular since changes to the legislation. Here we take a look at the dangers and pitfalls if the purchase is not structured properly and offer tips for funds wanting to borrow to purchase real estate. The prohibition on SMSFs […]