Related party rents and borrowings

There are a number of SMSF’s that now own either commercial or primary production property that is leased back to a related person (or business) of the super fund. In addition some borrowing arrangements within super funds are with related parties. As part of their audit process, the ATO is currently reviewing related party lease and borrowings arrangements. The purpose of these reviews is to ensure transactions are in accordance with rental and loan documentation and on commercial (arms-length) terms.

As a result it is very important that if your SMSF has any related party transactions (such as rent, interest or loan repayments), they are conducted in accordance with the drafted documentation. If reviews of your affairs indicate that additional payments (or withdrawals) need to occur for the 2014/2015 year we strongly recommend that these matters be attended to prior to 30 June 2015.

If you have any questions in relation to related party matters please contact Daniel Uden.

Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.