Technical Summit 2021
It is now 12 years on since the ATO released its BRP ruling and since that time we have seen significant changes in the technology, economic and legislative landscape. As a result, there has been significant developments in the application of the BRP definition as well as the emergence of new issues and threats that professional advisers need to be aware of. This session looks at some of these evolutionary forces and explores how SMSFs are responding and adapting.
At the end of the session, you will be able to:
- Outline the definition of BRP and how changes in technology may impact the types of property that may qualify;
- Describe the recent cases that may impact the decision to acquire BRP, and;
- Explain how economic events and developments have impacted BRP as an asset class.
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association