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ATO confirms LRBA focus in diversification probe

The ATO has confirmed that the focus of its current diversification review is SMSFs with portfolios that are highly concentrated in leveraged property investments, while acknowledging that concentration risk is an issue in a much higher proportion of the SMSF population than those trustees contacted in its recent letter campaign.

ATO confirms LRBA focus in diversification probe
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  • Shared by Accountants Daily
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  • September 23, 2019
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  • 1 minute read
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ATO confirms LRBA focus in diversification probe

In an update posted to the ATO website on Wednesday, the office confirmed that the 17,700 funds contacted as part of the diversification review used a limited recourse borrowing arrangement as well as having 90 per cent or more of their portfolio concentrated in one asset.

Read more at the Accountants Daily. 

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