Advisers are risking litigation if they recommend to their self-managed superannuation fund (SMSF) clients, a specialist lawyer has warned. Townsends Business & Corporate Lawyers principal Peter Townsend said that “if I were a financial planner wanting to cover my derrière, I would be ensuring that […]
Self-managed super funds (SMSF) must pay the full interest amount on related party loans no matter what rate is charged or risk having the expense treated as a contribution, according to a legal specialist servicing the superannuation industry. “If your documentation states the [related […]
Related parties that loan to SMSF trustees need to ensure that the loan is a real loan and not a ‘financial accommodation’. Townsend Business and Corporate Lawyers said SMSF trustees should not ignore the rules on SMSF borrowing from related parties by considering loans as […]
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