A Matter of Trusts

Taxation in Australia Journal

The recent Federal Court case of Aussiegolfa Pty Ltd v FCT1 is an important decision for considering two aspects of the superannuation laws that are not often considered by the courts: the in-house asset rules and the sole purpose test.

Background

In Aussiegolfa, the relevant self-managed superannuation fund (SMSF) invested in a managed investment scheme under which the SMSF directed the responsible entity of the scheme to acquire a residential property. That residential property was subsequently leased to the daughter of the member of the SMSF.

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