SMSF Legislation & Technical Update. Peter Burgess SPAA Technical Director. Session overview. Registration and definition of a SMSF Acquisition of related party assets Contributions Limited recourse borrowing arrangements In-house assets
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Peter BurgessSPAA Technical Director
“…a contribution is anything of value that increases the capital of a super fund provided by a person whose purpose is to benefit one or more particular members of the fund or all of the members in general.”
Has the capital of the
fund been increased?
No, if transaction is not dependant upon the identity of the other party
as a super provider or they are simply fulfilling the terms of a contract or
arrangement entered into on commercial or arm’s length basis.
Yes, if transaction is entered into because of a connection or relationship
with the super provider or cannot be explained by reference to
commercial or arm’s length dealings.
Was the purpose to
benefit one or more
members or all of the
members in general?
NTLG Superannuation Technical sub-group meeting (15 June 2010, 7 September 2010).
NTLG Superannuation Technical sub-group meeting (8 December 2010).
This presentation is for general information only. Every effort has been made to ensure that it is accurate, however it is not intended to be a complete description of the matters described. The presentation has been prepared without taking into account any personal objectives, financial situation or needs. It does not contain and is not to be taken as containing any securities advice or securities recommendation. Furthermore, it is not intended that it be relied on by recipients for the purpose of making investment decisions and is not a replacement of the requirement for individual research or professional tax advice. This presentation was accompanied by an oral presentation, and is not a complete record of the discussion held. No part of this presentation should be used elsewhere without prior consent from the author.