In this episode, we explore the ins and outs of in-house assets within SMSFs. Lyn Formica, Head of Education and Content at Heffron SMSF Solutions joins us to explain the regulations, benefits, and risks involved in helping SMSF trustees make informed decisions.
Shelley and Lyn offer valuable insights into managing these assets effectively by discussing:
- The complexities of in-house assets
- Action required to resolve a breach
- Exceptions to the in-house rules
Listen On: Apple Podcasts, Spotify, Amazon Music, Simplecast, iHeartRadio, Deezer
CONTENT:
03:31 Understanding In-House Assets
05:29 Exceptions to In-House Assets
06:39 Challenges with Overseas Assets
08:16 Market Valuations and In-House Assets
11:43 Related Parties and In-House Assets
14:32 Trustee Responsibilities for In-House Assets
21:13 Understanding Trust Legislation and Tainting
22:11 Timing and Compliance with ATO Rules
22:56 Dealing with NALI Provisions and Exiting Investments
24:40 Navigating Trustee Changes and Death Benefits
27:02 Section 85: Anti-Avoidance Provisions
34:01 Advising Clients on In-House Assets
39:58 War Stories and Real-Life Examples
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