In an article for the Sydney Morning Herald, Sally Pattern talks about the notification that the Australian Tax Office has sent to over 2,000 SMSFs, citing that they have engaged in the unethical strategy of dividend washing.
Category: Commentary Archives
ASIC Appoints SMSF Taskforce
The collapse of Charterhill brings to the fore certain serious apprehensions one always had for the otherwise buoyant SMSF industry. One-size-fits-all approach cannot possibly work for this sector. Any company, and I include Charterhill, that proposes the same mantra of “go for a combination of Limited Recourse borrowing, properties and SMSF” without analysing the hierarchy of investors is bound to collapse. The writing was always on the wall and it was only a matter of time.
SPAA Improves Limited Recourse Borrowing Guidelines
In an article for the website Smart Company, Cara Waters discusses the guidelines that have been attached to the Limited Recourse Borrowing Arrangements (LBRA) being used by the SMSFs. The SMSF Professionals’ Association of Australia (SPAA) has come up with these guidelines to ensure that LBRAs are used in an appropriate manner.
ATO Warning: Avoid Dividend Washing
In an article for the website Smart Company, Kirsten Robb talks about the new penalty regime and how the SMSF trustees can be taken to the cleaners for misusing their funds. 2000 SMSFs have undertaken what may be referred as dividend washing, a dangerous share trading strategy.
Why You Should Avoid Financial Advice from Property Promoters
In an article for the website Smart Company, Kirsten Robb sheds light on the financial advice unethically offered by real estate agents. It should be noted that property promoters who don’t carry an Australian Financial Services (AFS) license are not eligible to give recommendations on SMSF-routed real estate investments. Yet, this is what’s exactly happening rampantly.
Super Taxation Regime Does Not Need Big Changes
In an article for the website Super Review, Mike Taylor suggests that the prevailing Super tax regime can work quite well and lofty changes need not be made in the structure. It is nice to think of altering the concessional contribution cap, contravention threshold, and a few more things to an extent, but it does not mean we start making real big changes to the regime.
