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Fresh LRBA concerns surfacing for ATO

Ahead of the 30 June deadline, the ATO is “very concerned” that SMSF trustees are not meeting or aware of certain conditions that would qualify their related-party loan as being on commercial terms, according to one industry lawyer.

Fresh LRBA concerns surfacing for ATO
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  • Shared by SMSF Adviser
  • January 15, 2016
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In late 2014, the ATO released two interpretative decisions which indicate that borrowings on non-commercial terms can cause non-arm’s length income.

Read the full story at SMSF Adviser.

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