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ATO ID 2014/23 and loans to trusts

Publication date: 03 Nov 14 | Source: RETIREMENT & ESTATE PLANNING BULLETIN

Issue: Vol 17 No 7 Aug 2014

Pages: pp 119-120

Abstract:

ATO ID 2014/23 confirms that a loan to an unrelated trust will not constitute an in-house asset of an SMSF. However, advisors must exercise a high degree of caution as all is not as simple as it seems. This article highlights the need for caution before applying the result.

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Author profiles

Daniel Butler CTA
Photo of author, Daniel BUTLER Dan is one of Australia's leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO's Superannuation Industry Relationship Network (SIRN), the Chair of The Tax Institute's National Superannuation Committee, a member of the Law Institute of Victoria's Tax Committee, and is involved with a number of other tax and SMSF committees. Dan presents on the subject Taxation of Superannuation at the University of Melbourne's Master of Laws/Tax program. Dan is also a CTA and a Specialist SMSF Advisor. - Current at 30 August 2017
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Daniel Butler CTA
Dan is one of Australia's leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO's Superannuation Industry Relationship Network (SIRN), the Chair of The Tax Institute's National Superannuation Committee, a member of the Law Institute of Victoria's Tax Committee, and is involved with a number of other tax and SMSF committees. Dan presents on the subject Taxation of Superannuation at the University of Melbourne's Master of Laws/Tax program. Dan is also a CTA and a Specialist SMSF Advisor. - Current at 30 August 2017