The ATO has issued guidelines defining the compliance obligations relating to limited recourse borrowing arrangements (LRBA) involving related parties that will ensure income from these strategies will not be treated as non-arm’s length in nature.

The corporate watchdog has cracked down on three instances of potentially misleading SMSF advertising on social media.

The definition of an SMSF should be a straightforward concept, but a number of legal determinations and exceptions have clouded this picture, presenting potential issues for trustees.

SMSFs holding collectables or personal use assets have been prompted to ensure they are able to meet the new rule conditions commencing 30 June in order to remain complying.