ATO investigating SMSFs that invest in professional practices
The ATO is reviewing its guidelines on the structures of professional firms and has raised concerns about certain arrangements involving the use of related party financing and SMSFs, an industry lawyer warns.
Speaking to SMSF Adviser, DBA Lawyers director Daniel Butler explained that in 2015 the ATO released guidelines on the allocation of profits by professional firms as it was concerned about the way some professional practices were structuring the revenue flow from their practice.
Read the full article on SMSF Adviser.
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