SMSF expenses – just an arm’s length away

Non-arm’s length income has been a staple of the SMSF environment for many years. The link between seemingly innocuous fund expenses and non-arm’s length income is a relatively new phenomenon, introduced from 1 July 2018, but its arrival remains clouded. The introduction of non-arm’s length expenses was meant to provide clarity around such issues as charging lower than commercial rates of interest but instead has everyone questioning who can mow the lawns at the investment property and more importantly how can I prepare my own accounts for free.

This webinar will contemplate how the introduction of non-arm’s length expense provisions will have a lasting effect on how SMSF trustee transact. Throughout we will discuss the interaction between fund expenses, trustee remuneration and non-cash contributions and how each or all can contribute to a fund paying the top marginal tax rate on its income.

Learning Outcomes:

At the end of this webinar, participants will understand:

Undertaking activities in an individual versus trustee capacity
How the trustee remuneration and contribution rules can result in NALE
The important role of independent valuations to property transactions
How dealing with related party transactions can trip up trustees in more ways than one

This session will be issued with CPD hours for:

the SMSF Association
FASEA
Tax Practitioner’s Board (TPB); and
The major accounting bodies.

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Presenter: Tim Miller & Ben Plail

Date: 15 December 2020

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Accredited CPD Education

SuperGuardian’s education activities are assessed against the SMSF Association’s professional education standards. Being recognised as an SMSF Association Accredited Educator enables us to work closely with the Association in lifting the standards of professional SMSF advice and services through quality SMSF education.

Tim Miller

Education Manager

Tim Miller is one of Australia’s leading SMSF educators and presenters with over 23 years’ experience in the Superannuation industry. His experience has been gained through providing legislative and compliance support to thousands of Trustees, Accountants and Financial Planners since joining the SMSF sector in 1999. In addition to servicing the needs of SMSF clients, his practical and personable approach to compliance has made him a much sought after presenter.

Tim regularly presents at the major SMSF conferences and events, contributes to various trade and general publications and is the author of one of the subjects of the SMSF Association Graduate Certificate delivered through the University of Adelaide and Kaplan, which has also been adopted as part of the CA ANZ SMSF specialist program.

Tim is an SMSF Association Specialist Adviser.