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  1. MikeF

    ATO SMSF Draft Ruling SMSFR 2011/D1

    The ATO today released a new draft SMSF ruling (SMSFR 2011/D1) which seeks to clarify a number of contentious issues involving SMSF limited recourse borrowing arrangements including; The ruling if and when passed, will allow money borrowed under the borrowing arrangement to not only acquire...
  2. MikeF

    Tax Confirmation for SMSF Borrowers

    The ATO has announced it will treat a SMSF trustee who enters into a limited recourse borrowing arrangement for the purpose of purchasing an asset as the owner of the asset for income tax purposes. The proposed measure effectively ignores the instalment warrant trust for income tax purposes...
  3. MikeF

    Trf of NSW Business Real Property to SMSF

    The NSW government recently amended it’s Duties Act whereby a duty of only $50 is payable on transfer of real business property from a person to the trustee of a SMSF. I’ve been told that this does not include where business real property has been transferred to a “bare trust” arrangement...
  4. MikeF

    SMSF Loans - Personal Guarantees

    Whilst St George were the only bank previously not requiring personal guarantees from SMSF members on all of their SMSF loan product offerings, their Business & Corporate Banking unit have this week amended their minimum security credit policy as follows. "Beneficiaries guarantee from all...
  5. MikeF

    Laiki Bank increases home loan rates by 0.25%

    Laiki Bank today posted their new rates effective today and they reflect a 0.25% I'm guessing by the end of today the majors will follow
  6. MikeF

    ANZ reduces Max LVR to 90%

    Just received advice that effective Monday, 17th November 2008 ANZ’s maximum Loan to Value Ratio (LVR) will change from 95% to 90%. "ANZ believes reducing the maximum LVR from 95% to 90% is a prudent and measured response to the emerging economic environment and is both in the bank's...