SMSF Alert: May 2015

Key Points Major parties make pre-Budget announcements Limited recourse borrowing agreements Taxpayer Alert on franking credits Tax Office determination on life insurance policies and buy-sell agreements With the May Budget approaching and the Tax Office focusing closely on transactions being implemented through SMSFs, it’s been a busy month. Here’s the latest news: Pre-Budget announcements In the lead up to Budget night (12 May) both major parties have raised superannuation as an issue. ‘sole purpose test’ and also section 65 of the SIS Act (financial assistance to members). As a result of this decision, we expect many super members who’ve...

With the May Budget approaching and the Tax Office focusing closely on transactions being implemented through SMSFs, it’s been a busy month. Here’s the latest news:

In the lead up to Budget night (12 May) both major parties have raised superannuation as an issue.

‘sole purpose test’ and also section 65 of the SIS Act (financial assistance to members).

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