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Published on 22 Aug 12
by VICTORIAN DIVISION, THE TAX INSTITUTE
Dealings by SMSFs with related parties are a potential minefield due to regulatory and tax rules which regulate, prohibit or tax an SMSF that conducts such activities. However, if structured correctly, related party transactions can create great opportunities for SMSFs and related parties alike. This paper attempts to navigate this minefield by covering:
The prohibition against assets from related parties
The prohibition against providing financial assistance to members
The in-house asset rules as they apply to loans and leases
The arm's length dealing requirements
The sole purpose test
The non-arm's length income rules.
David is Director - Superannuation Division with Pitcher Partners. Current at 19 December 2005
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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