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Articles
Small Changes Make The Difference
Employees Activities Outside Work Hours
No Business? No Deduction!!
ABN Information Available Online
Minimum Superannuation Support
GST Errors on Business Activity Statement Returns
Late Lodgement Or Late Payment
No Depreciation for Rental Property Items
Donations ? Instant Tax Benefit
Workcover Deadline ? 5th September
Building and Construction Industry LSL Levy
Travel Expenses to Attend Company Annual General Meeting
Victorian Workcover Claims Obligations
Victorian Workcover Premium Obligations
GST Exemption ? Going Concern
PARTNERS' ANNOUNCEMENT
Enough for Retirement?
Compensation for Damage to Depreciable Asset Not Assessable
Company Directors ? Limit Your Liability
Rental Losses and Bankruptcy
Superannuation Fund and Instalments
ASIC Changes ? Update
Shareholder Loans
Unclaimed Super?
Non-resident for Tax Purposes
Discretionary Trusts Can Lose Small Business Concessions
Salary Sacrifice Arrangements

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Superannuation Fund and Instalments
Some restrictions follow a recent opinion of APRA to the use of instalments inside a Self Managed Superannuation Fund.

In a recent opinion APRA has taken the view that converting existing holdings of shares to instalments by a superannuation fund, constitutes the granting of a charge over assets of the fund, which is not permitted under the SIS Act.  (When Telstra was floated, the shares were issued as instalments).

As we perceive that:-

  • instalments are therefore an eligible investment, if they are purchased via market or via primary market cash application and no changes occur subsequently,
  • a period of grace until 16th December 2003 or the next reset period to make a completion payment or sell the instalment.
    Overall the instalments need to be within the fund investment strategy, with the added complexity of the requirement to have an appropriate risk management procedure in place.  It is a more complex investment decision, but the rewards (and losses) can be greater.

    There are new and interesting variations to this style of investment available.  Stockbrokers and Financial Advisers use this technique to gear into share investments.





























    4th-August-2003
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