30/11/2018

Our Guides to SMSF Borrowing provide accountants and financial planners with an indispensable roadmap that clearly outlines the fundamental principles of an SMSF Gearing (also known as a limited recourse borrowing arrangement).

Our Guides consist of two volumes:

-    Volume 1 is an everyday workbook to assist in setting up a compliant borrowing by a super fund by exploring the five basic elements of a limited recourse borrowing arrangement and the 18 common steps in the transaction. It also provides checklists and an Australia-wide stamp duty reference table.

-    Volume 2 discusses the finer points of the borrowing legislation and how it relates to many of the other areas of necessary superannuation compliance.  Our Frequently Asked Questions section is an invaluable resource for any questions you may have about this type of arrangement.

The Guides are updated regularly to reflect changes in law, regulations, Tax Office Guidelines or SMSF gearing practice and we are now releasing our latest update.

The 2017/18 financial year has been a busy time for limited recourse borrowing arrangements and our guides have been updated to ensure they are up-to-date with the changes.

We have seen new legislation being drafted which, once enacted, will impact a member’s total superannuation balance in some circumstances and the ATO declared its position regarding trustees taking out death insurance cover on the lives of the members for the purposes of being able to discharge a debt under an LRBA.

Our information regarding the stamp duty assessment of the transfer or holding trust deed in New South Wales, the Australian Capital Territory and South Australia has been updated based on developments in these jurisdictions.

Our content has also been expanded by the addition of two great chapters outlining how land tax applies to limited recourse borrowing arrangements in New South Wales and Victoria.

Get up to speed in relation to the latest changes and order your copy now via the Professional Development tab or feel free to call Townsends Business & Corporate Lawyers on (02) 8296 6222 or email info@townsendslaw.com.au to see how we can assist.