Recent legislative and industry updates have introduced significant changes, including increased duty and extended vesting dates for trusts, broader electronic signing capabilities for companies, and additional guidance on the classification of discretionary trusts as foreign entities. […]
ATO extends impending LRBA deadline
Acis Legal Services, current as of: 30 May 2016.
The ATO has extended the 30 June deadline for SMSF trustees looking to get their related party LRBAs on commercial terms.
Following several requests for an extension of the deadline, the ATO has announced that the looming June 30 deadline, as discussed in our February Acis All Areas, has been extended to 31 January 2017. This will allow SMSF trustees extended time to ensure that any related party LRBAs in their fund are on terms consistent with an arm’s length dealing.
Click here to download the LRBA Checklist
If you have any queries on this extended deadline, please call us toll-free on 1800 773 477.