In the Press:

Technical article

4 Sept

SMS Magazine - In-house asset breaches

“ Red Willow Super managing director Marjon Muizer said section 83 of the Superannuation Industry (Supervision) (SIS) Act prohibited the acquisition of an in-house asset if its market value exceeded 5 per cent of an SMSF’s total assets and also prohibited further acquisitions if a breach had already occurred.

Speaking at today’s SMSF Association Audit Day 2024, Muizer gave a scenario where a fund had made an investment of $100,000 in a related company, exceeding the 5 per cent limit, and then four months later made a further investment of $25,000.

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https://smsmagazine.com.au/news/2024/09/03/in-house-asset-breach-not-deferrable/

Miriam Alcorn https://www.alcorndesign.me/