Relatives are defined in both Section 10 (1) and Section 17A of SISA. Section 10 (1) definition is relevant in determining who is a related party of the SMSF and whether an SMSF is providing financial assistance. Relatives in Section 17A are in relation to the fund structure in order to meet the definition of […]
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An SMSF is predominantly making financial supplies the provision of an interest in a super fund. Financials supplies are a category of input tax supplies. SMSF and GST.
The Family Court can make orders in relation to the property of the parties to a marriage under Pt VIII FLA (Family Law Act 1975). The parties to a marriage can also make financial agreements about the division of their property under Pt VIIIA FLA. Prior to 28 December 2002, superannuation interests could not be […]
SMSF Compliance Risks: compliance traps to watch out for in the 2018//19 financial year. TBAR, NALI, LRBA, downsizer contributions, ECPI, depreciation.
From 1 July 2017, second-hand assets in residential properties are under new depreciation rules. In the past, when an SMSF purchased a used residential property, the fund could claim Div 40 deductions for existing furniture and fittings; under the new rules, Div 40 deductions are most likely denied for these assets. However the new rules […]
There are advantages in a cost base lift to create a deemed capital gain. What about CGT Relief deemed losses? Are there benefits to reset