SMSFs transacting with former spouse, cousins or friends

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There are circumstances where a former spouse could be considered a related party of the fund. Any transactions would be subject to the sole purpose test and the investment strategy... Read more continue reading

SMSF: When a member has a terminal medical condition

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When an SMSF member is diagnosed with a terminal medical condition, it is not only devastating news to them but also to those close to them. With perhaps little time... Read more continue reading

Can an SMSF sell a collectable to a related party?

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Can SMSF trustees sell a collectable (artwork) to a relative and does it require a valuation report? John and Mary’s SMSF has purchased a collection of artwork as an allowable investment... Read more continue reading

SMSF NALE ruling finalised – ATO gives some good news, some not so good

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A key ATO ruling (LCR 2021/2) was released yesterday to update the original draft from 2019. It deals with the vexed issue of when transactions between a superannuation fund and... Read more continue reading

Are you up to speed on the latest process to rollover a member of an SMSF?

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Rollovers from one SMSF to another must comply with the technical requirements. Elizabeth Wang from Townsends Law has summarised those requirements to save you time. John and Mary have an... Read more continue reading

SMSF Trustees go for growth in low-yield environment

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In a reversal from last year, SMSF trustees intend to increase their allocation to equities and decrease their allocation to cash in the current low-rate environment, according to the 2021... Read more continue reading

Michael Hallinan reviews recent superannuation changes

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Six member SMSFs finally arrive Why have a 6 member SMSF? A 6 member SMSF may be relevant to situations where a parent or a couple have children who are... Read more continue reading

SMSFs transacting with former spouse, cousins or friends

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A question we get from time to time is whether the trustee(s) of an SMSF can enter into transactions with a fund member’s former spouse whether the transaction is a... Read more continue reading

What happens when the last surviving trustee dies?

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Mary being the sole individual trustee of her trust has recently passed away. Her daughter Sarah is her executor. Because Mary was the sole individual trustee of the trust this... Read more continue reading

SMSFs and binding death benefit nominations – where is your limit?

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The superannuation environment may offer great tax efficiency in passing a member’s death benefits to their dependents, however there is a rider – the member will not have full control... Read more continue reading