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3 major problems with installment warrants in SMSF - News Flash from ATO

 

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 Issue 24 of 2008 
 
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3 major problems with installment warrants in SMSF

 

If you are a trustee of a SMSF and are contemplating an installment warrant arrangement within your SMSF or have already completed a similar transaction - please read Tax Alert 2008 /3.

The ATO is concerned about the following three issues

  1. Third parties (trustees) giving a personal guarantee to lenders for a non-recourse loan to the SMSF;
  2. Assets acquired by SMSF which are prohibited by Superannuation law, such as residential property from trustees or non listed shares etc;
  3. Existing fund assets placed in a new limited recourse borrowing.


Tax office has issued a fresh warning in Issue 41 - Tax Agent publication of ATO - September 2008  Page 25. Click here to read.

If you are an advisor - please make sure that your professional Indemnity Insurance covers SMSF advice.

Our recommendation on Installment warrants - read here

You are being warned.





 
 
 

www.trustdeed.com.au provides online service for creating, storing & managing legal documents for Companies and Trust deeds for SMSF, Family, Unit & Hybrid Trusts, click here for more information.

New / Update SMSF Trust Deeds cost only $110 and can be created in 20 minutes, Trust Deeds are emailed instantly! 
 
 
 

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if you are an advisor, financial planner, accountant or a solicitor, we can offer you to create one trust deed on our system for free. This offer is valid provided you purchase 10 or more new SMSF deeds or update 10 SMSF trust deeds for your clients. To claim your first free trust deed, first  register on our website www.trustdeed.com.au and phone our office on 02 9638 2807 for a promotional code.
 
If want to communicate with your clients, advising them the need & advantages to update their trust deed, click here to download a pro-forma letter to your clients.
 
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If you are an advisor and use our website for your clients SMSF SMSF Specialist AdvisorTrust Deed. You now have access to SMSF Specialist Advisor who will answer all your technical questions online for you. Simply click the button above and start chat.

New or update your existing SMSF Trust Deed for $110 You can keep the trust deed up to date for the next five years for only $165.

Our SMSF trust deed has been prepared with input from accountants who have over two decades of experience in setting up structures for their clients and have combined knowledge of auditing and lodging tax returns for more then 2000 SMSF's, their practical experience is an invaluable contribution.

For further questions on our trust deed, ring 02 9638 2807 or email sales@trustdeed.com.au

Our Website has complete Document manager for all future downloads

We are the only online SMSF Trust Deed providers where you can purchase a Trust Deed 24/7 for $110

It takes only Less then 20 minutes to register and build a SMSF Deed.



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In This Issue
3 problems with Installment Warrants in SMSF
Live Online Help
How our Web Site works
Additions to our website


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