http://www.dbalawyers.com.au/announ...ased-limited-recourse-borrowing-arrangements/
The changes
The draft law released is set to clarify that the SMSF trustee should be treated as the owner of the asset of the bare/holding trust, instead of the trustee of the bare/holding trust. This means that the bare/holding trust is ignored and anything that happens to or results from being the owner of the asset, such as receiving dividends and franking credits, affects the SMSF trustee and not the bare/holding trust trustee.
In short, the changes will implement a ?look through? situation
The changes
The draft law released is set to clarify that the SMSF trustee should be treated as the owner of the asset of the bare/holding trust, instead of the trustee of the bare/holding trust. This means that the bare/holding trust is ignored and anything that happens to or results from being the owner of the asset, such as receiving dividends and franking credits, affects the SMSF trustee and not the bare/holding trust trustee.
In short, the changes will implement a ?look through? situation
