Determining what is an in-house asset can help determine investment strategy: technical specialist
It is important to understand what is and what isn’t an in-house asset to ensure compliance in an SMSF, a leading technical specialist has said.
Tim Miller, head of technical and education for Smarter SMSF, said on a recent webinar for SuperGuardian that understanding the concept of in-house assets will also allow trustees to determine when they can invest 100 per cent versus 5 per cent of the assets in a fund.
“When we look at the Tax Office statistics in regard to in-house assets, it’s still the second-biggest breach by number of breaches performed in the SMSFs space, behind member loans, and there is clearly a link between loans and in-house assets,” Miller said.
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