Following our advice last week we am pleased to announce the release of our Analysis Tool. The tool provides an accurate assessment of what is required for an existing loan to satisfy the Practice Compliance Guideline for related party limited recourse loans. As an indication of the potential problems and solutions available we have applied the calculator to one of the examples published in the Guidelines.
Personal Concessional Contribution Misunderstanding
Each year we have a few instances where an SMSF member is informed by their personal tax accountant, that they can’t...