MEDIA RELEASE: The SMSF Association applauds the ATO’s decision to give SMSF trustees an extra seven months to review the terms of their limited recourse borrowing arrangements (LRBAs) to ensure that they are either consistent with an arm’s length dealing or wound up. The ATO announced today that the 30 June 2016 deadline for SMSFs with LRBAs to take action in order for their LRBAs to meet the safe harbour terms in Practical Compliance Guideline 2016/5 would be extended to 31 January 2017.
MEDIA RELEASE: The SMSF Association has formed a new partnership with the stockbroking and wealth management firm Morgans Financial Limited to improve professional standards in the SMSF sector. The Association and Morgans have committed to work together to provide a range of education, training and accreditation offerings on SMSFs for Morgans’ 500 authorised representatives (advisors)
Superannuation assets totalled $2.0 trillion at the end of the March 2016 quarter. Over the 12 months from March 2015 there was a 0.6
per cent decrease in total superannuation assets.