The implementation of a LRBA by an SMSF is a very complex transaction since there are a minefield of issues and traps which need to be considered. The successful implementation of these arrangements requires the practitioner to be up to date and on top of their game. Getting it wrong can have devastating consequences. This video outlines:
- practical issues, common errors and traps with implementation
- the role of the accountant, lawyer, financier and financial planner
- overview of the finalised SMSFR 2012/1
- loan and security documents and dealing with the financier
- stamp duty concessions and dealing with the OSR
- overview of TA 2012/7
- latest developments and strategies.