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I had some feedback in another thread about the use of offsets in SMSFs but I really need something specific before I go to a private ruling. Here are two scenarios; SCENARIO 1 SMSF IP1 on bare trust - settled at $550k SMSF limited recourse loan 1 on IP1, $440k SMSF offset against loan...

ATO Page On the face of it this appears to be welcome news for those that have properties on bare trust. I must admit I was surprised to see this as if limited recourse borrowing is going to be banned why even bother going to the effort of releasing new rules - unless the intent is to just...

I wanted to thank all of the contributors to this forum, in particular those qualified professionals who give up their time to read the requests for help and then provide some guidance. Your efforts are greatly appreciated! Thank you again and have a prosperous New Year CT