Session details
Session 19.1: SMSF Investments – who, what, when, where and how for a complying fund
Speaker: Jemma Sanderson, CTA, Cooper Partners
SMSFs are a highly attractive vehicle in Australia due to the concessions available, but also the broad range of investments available for an SMSF. However, it is imperative that as advisers we are guiding our clients with respect to complying investments, including on acquisition and on an ongoing basis. In this session, Jemma will address some of the considerations regarding SMSF investments including:
- Requirements of a complying investment strategy, including who can and should be preparing these
- Existing and new investments – what to watch out for that might result in issues
- Limited Recourse Borrowing Arrangements
- In-house assets (IHA) – exempt unit trusts, accidental IHA
- Loans in and out of funds and the issues / how to fix and mitigate
- Sole Purpose Test considerations, particularly in light of recent cases
- Asset specific non-arm’s length income and expenses issues
- 1 July 2018 has applied to non-arm’s length expenses
- The ATO ‘no compliance resources’ guidance is on general expenses tainting all the income of the fund – current status
- Valuations and what the auditor is looking out for, and pre-empting those requirements for clients.