While in-house assets make up a relatively small portion of overall SMSF assets, it's an area that is high on the ATO's list of reported contraventions resulting in increased regulatory scrutiny. Unsurprisingly, in-house assets are listed as the second most reported contravention to the ATO in the last 10 years. They also represent the highest value in dollar terms for SMSF reported contraventions over this same period!
The level of regulatory scrutiny and inconsistent reporting by SMSF auditors can be linked to the complex nature of the related party rules. And in practice, failure to comply with these in-house asset rules can result in clients being placed at high risk and the fund being forced to sell the assets. This webinar breaks down the complexity of the in-house asset rules and how they should be correctly applied.
Garth has over 20 years of practical experience in superannuation. He spends most of his time working with accountants and advisers to develop strategies that help their clients get the most out of their SMSFs.
He is adept in the compliance requirements for practitioners, the technical requirements of the laws and regulations, and the very real impact on clients.
Referred to as the ‘super man’, Garth is a recognised and in-demand speaker on superannuation issues and strategies for the leading professional bodies and the Easton Investments group of companies - Knowledge Shop, Merit Wealth, and GPS Wealth.
*The office rate applies per office location (maximum 10 participants per office location). The PD points for all attendees will be recognised - multiple links at same location if required. We will contact you for the names of your team once you have registered as an office.