A common strategy implemented by business clients is to buy a commercial property (usually the premises from which their business is run) via their SMSF and then lease this property back to the related party. Borrowings are often used to finance the acquisition. The complexity arises when the related party tenant wants to make changes or improvements to the property,... More Information ▶
Aside from the emotional turmoil that a divorce brings to a family situation, there are an enormous range of financial issues to be worked through. Here we breakdown the key issues from an SMSF perspective: 1. Despite the extent of breakdown in the marriage, the law is very explicit about the expectations of all Trustees to continue to “act in... More Information ▶
For many business owners, the eventual sale of the business or businesses IS the retirement fund. And current profits are used to extend the business or fund personal lifestyle decisions such as luxurious family holidays. In fact the more successful a business is, the more the family tends to rely on its future success to fund an accustomed lifestyle. So... More Information ▶
Whether or not expenses are deductible is largely about common sense. If the investment is allowable under the Superannuation Industry Supervision (SIS) Act, or the cost is genuine in running your fund, then chances are, it is a deductible expense. It’s actually as much about remembering to record such expenses so that you can make the claim. You can get... More Information ▶
Here’s the latest snapshot from the ATO (out quarterly) of what SMSF Trustees are doing with their money: 516,925 total number of SMSFs representing 986,441 trustees Controlling 31.5% of all Super assets (up from 10% just a decade ago) at over $531b Average fund balance over $1m As at Sept 13, 77% of all SMSF assets in direct Australian Shares... More Information ▶
