by David Busoli | 23 Mar 2022 | News
If a fund increases in value for any non-investment related activity the increase will be a deemed contribution. Most commonly this occurs when an expense is paid on behalf of the fund without reimbursement. Where the action can be attributed directly to a member or... by David Busoli | 16 Mar 2022 | News
We all know that the level of in-house assets cannot rise above 5% of the fund value at the end of the financial year but what value is that? What is often not appreciated is that it is the gross value. That means that a fund with a $500,000 balance generally has an... by David Busoli | 9 Mar 2022 | News
Recently I was asked if an employee, offered discounted shares in her unlisted employer under an employee share purchase scheme, could acquire them via her SMSF. Quite apart from any ownership restrictions contained in the employee share plan offer, from an SMSF... by David Busoli | 1 Mar 2022 | News
On occasion, SMSF members illegally access preserved benefits. Even though this constitutes a breach, if the amount is repaid quickly, and with interest, and it’s the first time it’s happened there will generally be no consequence. If inaction and the passage of time... by David Busoli | 22 Feb 2022 | News
The SMSF Association has released a report prepared by the University of Adelaide which has overturned some established SMSF myths. The report was largely in line with the previous findings of Rice Warner but involved a huge sample of over 300,000 funds. Essentially...