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FSI final report recommends banning borrowings — but a window of opportunity exists

FSI final report recommends banning borrowings — but a window of opportunity exists!

The Financial System Inquiry’s final report — chaired by David Murray — was recently released. The full text is available at As expected, it has recommended that limited recourse borrowing arrangements (‘LRBAs’) in superannuation funds be banned. This gives rise to a certain window of opportunity. What the FSI final report actually said The [read more]


New ATO view on cross-insurance within an SMSF!

There has been much conjecture as to whether a self managed superannuation fund (‘SMSF’) trustee can implement a cross-insurance strategy after 1 July 2014. The ATO recently addressed this question; which is discussed below. However before discussing the ATO’s view, we begin by briefly discussing what cross-insurance is. What is cross-insurance in an SMSF context? [read more]


SMSFD 2014/1: latest from the ATO on commuting a TRIS

The ATO has recently released self managed superannuation fund determination SMSFD 2014/1. SMSFD 2014/1 builds on taxation ruling TR 2013/5 and SMSFD 2013/2 and provides some important insights regarding the ATO’s views on commuting transition to retirement income streams (‘TRIS’). This article discusses some key points arising from the determination. What is a ‘commutation’? Although [read more]


Unwinding an SMSF limited recourse borrowing arrangement

As certain SMSF limited recourse borrowing arrangements reach completion, many are unsure how the arrangement should finish. There are a number of steps involved in weighing up options and strategy, as well as in documenting and carrying out the process. Note that this article deals with the situation of where a borrowing has been [read more]