653 paragraphs found
See subsection 52B(2)(d) of the SISA and regulation 4.09A of the SISR. …
The auditor remains alert to circumstances which indicate that the SMSF is running a business or conducting operations which may be akin to running a business, as this activity may breach the sole purpose test. Indications that a business is being …
Investments in related unit trusts, where trustees or members of the SMSF are also trustees of the related unit trust, are common SMSF investments. The auditor considers the sole purpose test in light of the investments held in, and by, the related unit …
Also refer to ATO Ruling SMSFR 2008/2: The application of the sole purpose test in section 62 of the SISA to the provision of benefits other than retirement, employment termination or death benefits …
Collectables and personal use assets under the SISA and SISR are permitted investments for SMSFs, provided the asset was not acquired to provide a personal benefit for the member or their related parties. Collectables or personal use assets [160] that are …