The Division 296 impost has prompted SMSF members looking at retaining assets in super to consider the tax impact of their death on their beneficiaries.
The rules for a super fund investing in property are complex because of the restrictions placed on some types of property that may be acquired (purchased or transferred in specie) from related parties.
The ATO has issued guidance on what SMSF members need to understand about compliance regarding responsibilities when appointing trustees or directors of a corporate trustee.