The commercial and tax issues which affect SMSFs continue to be one of the least understood areas by trustees and advisers alike. Using a case study approach, this presentation considers several SMSF investments and whether they meet the relevant SIS requirements.
Topics covered include:
- dealing with the ATO and its current move from education to compliance
- formulation of an appropriate Investment Strategy
- sole purpose test considerations
- investment restrictions and exceptions (including lending issues, acquiring assets from members, borrowings, 'in house' assets rule)
- interaction between SMSFs and interests held in unit trusts
- Financial Services Reform Act implications.