SPAA welcomes new ATO approach to borrowings
SPAA welcomes the release of ATO Draft Ruling SMSFR 2011/D1
which provides the ATO's preliminary view on what constitutes a
single acquirable asset and also provides further clarity on the
distinction between a repair and an improvement
in the context of a LRBA.
We welcome the ATO's common-sense approach to the interpretation
of these rules which in our view will greatly assist SMSF trustees
and their advisers to plan with confidence.
Download Media Release