Can an SMSF lease residential property to a related party?

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“No” is probably the first answer that comes to mind but it is actually “maybe”, if we are to believe the full Federal Court in the judgement it handed down in the Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2018] case last month. One of the issues the Court examined is whether the leasing of a […]

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How does an SMSF buy a property?

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There are a lot of considerations about buying property as an investment and the complexities increase when the purchaser is an SMSF. Importantly with an SMSF, there are a number of protocols and structures to consider in the purchase process. This article will look at different funding strategies for SMSFs to consider, pros and cons […]

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Can you sue your SMSF auditor if things don’t go to plan?

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The NSW Court of Appeal has overturned the decision of the trial judge and held that an SMSF auditor was liable to pay damages for losses incurred by the SMSF. The case of Cam & Bear Pty Ltd v McGoldrick highlights the obligation of the fund’s auditor to protect the fund and its trustee against […]

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Replacing trustees and mental incapacity

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If you are currently a trustee or a director of a corporate trustee of an SMSF, you will recall signing a number of legal documents for your appointment and acceptance to be appointed as such. A position of trustee often entails extensive duties and responsibilities, and the formality is required as one should not be […]

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10 ways to protect your SMSF from loss of mental capacity

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If you have a self-managed superannuation fund (SMSF), you need to plan ahead to ensure that it can still keep going if you lost mental capacity due to dementia (or other reasons such as suffering a stroke). Otherwise the fund’s assets and operations could be frozen, resulting in losses from being unable to buy or […]

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SMSF member limit to increase from four to six

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One of the key changes from this year’s budget is the Government’s proposal to increase the maximum permitted number of members in a self-managed superannuation fund (SMSF) from four to six. While this change will not come into effect till 1 July 2019 it’s worthwhile examining how this change may impact your superannuation fund in […]

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Buy property through SMSF in your 30s

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Omniwealth thinks that investors in their 30s are the perfect age to purchase property within an SMSF. Leaving such a major investment decision until your mid to late 40s may not work for many investors and the lenders that are needed to make it all happen. Investing in property through your SMSF in your 30s […]

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Bankruptcy and SMSF trusteeship

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John and Mary are individual trustees of their SMSF. John has incurred quite a substantial amount of unmanageable debts and recently entered into a voluntary bankruptcy. John is unsure what he should do as a trustee in these circumstances. Bankruptcy is a serious issue for anyone but additional caution needs to be taken by members […]

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Rate of growth in SMSFs at 10 year low; 47% of trustees have unmet advice needs

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The establishment rate of self-managed superannuation funds (SMSFs) has hit a ten year low, dropping to 4.8 per cent from a high in 2010 of 9.3 per cent, according to the most comprehensive survey of Australia’s SMSF sector – the 2018 Vanguard/Investment Trends SMSF Report. While SMSF assets have grown over the year to March […]

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Getting your SMSF compliance right

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Self-managed superannuation funds (SMSFs) now account for the management of almost one-third of all superannuation in Australia. They have become popular with many Australians over the last decade as an SMSF enables one to use their super towards additional strategies such as purchasing an investment property, taking more control of your superannuation or enable you […]

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