All SMSF LRBAs where the lender is not a financial institution might need to take urgent action by 30 June 2016 or possibly face significant tax bills. We have previously written about this.
We have drafted a free tool for non-arm’s length LRBAs. This tool is designed for advisers to use to contact their clients. The free tool is available here.
Naturally, for those who want to alter the terms of an LRBA or refinance, DBA Lawyers offers fixed fee services and can provide advice and assistance on SMSF matters. See:
- alteration: http://www.dbalawyers.com.au/smsf-borrowing-alter-terms
- refinance: http://www.dbalawyers.com.au/smsf-borrowing-loan-refinance
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This article is for general information only and should not be relied upon without first seeking advice from an appropriately qualified professional.