The SMSF Association has criticised a federal government proposal to make amendments to legislation in relation to limited recourse borrowing arrangements (LRBA).

The ATO has announced a time extension will apply to SMSF annual returns relating to the 2017 financial year due to the changed reporting circumstances arising from the super reforms.

The Federal Court has ruled a situation where an SMSF invests in property through a sub-fund where that property is subsequently leased to a related party will still be captured by the existing in-house asset rul