Self Managed Super Funds holding trust assets
by Brett Davies at LawCentral
Question: I am having an ongoing debate with my accountant.
My wife and I are currently the trustees of our SMSF. We are very conscious of the rules and requirements relating to investment and ensuring that our SMSF is compliant. We are aware that investment in a "related trust" is restricted (since 11 August 1999). This means that there are "non-arm's length income provisions in the Income Tax Assessment Act 1997 (ITAA). This all leads us to the conclusion that our SMSF cannot hold an interest in a trust.
Our accountant begs to differ. She says that there are many circumstances that a SMSF can hold an interest in a trust. Can you please clarify this for us?
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