A few weeks ago I went to a meeting hosted by the ASX where they had a number of presenters talking about their products.
A presenter from SMSF Technical Solutions and Super Concepts mentioned that you are allowed to lend your private money to the SMSF at 0% interest. I queried him on this during the break and he was very definite that it is correct.
I have asked my accountant and other people and they say you cannot do it.
Do you know anything about it?
A: Thanks for the question
This was correct, however with the passing of some recent legislation, the ATO has handed down two new determinations – ATO ID 2015/27 and ID 2015/28 – that effectively put a stop to this practice.
Tony Negline will be commenting more on this in the next edition of the Switzer Super Report.
