LRBAs and pensions: A risky balance

Since the introduction of the ability of SMSFs to borrow in order to purchase assets as part of a limited recourse borrowing arrangement (LRBA) under section 67A of the Superannuation Industry (Supervision) Act 1993, we have seen a proliferation of new SMSFs specifically to purchase residential investment properties. Whether these investments have been made rightly…

SMSF

2016/17 Budget – Key changes to Superannuation

As was anticipated, the federal budget contained various measures which impact those looking to save for their retirement through superannuation. Some of the key changes include: Fixing the concessional contributions cap to $25,000 a year for all individuals regardless of age Reducing non-concessional contributions cap from $180,000 per year to a lifetime cap of $500,000 Removing the work test…

SMSF

Should an SMSF be a family super fund?

Sometimes SMSFs are referred to as family superannuation funds due to the ability to have mum, dad and two children as members in the fund. However, is this actually a good idea? What happens if there is a fight in the SMSF between parents and children? This article, by Bryce Figot of DBA Lawyers, considers…

SMSF