Search Results for: Breeches short length
acquired by an smsf. yes/no check for type of asset, relationship between the fund and seller, purchase contract, title deeds, acquired at market value. borrowings (s , a & b) no borrowings have been made by the fund unless they meet the borrowing exceptions. the borrowing exceptions include: certain short-term
and statements, ledgers, investment strategy, minutes. for lrbas, check that the asset was a single acquirable asset, purchase documents, holding trust deed, loan (limited in recourse) contracts, repayments. check that related party lrba's meet the safe harbour provisions and check for non-arm's length...
https://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/SMSF-resources/Approved-SMSF-auditor-checklist/