By Brett Griffiths
In an effort to better understand the SMSF community’s use of limited recourse borrowing arrangements (LRBA), the ATO will be undertaking a trustee survey next month.
Who will be contacted?
If there were LRBA assets reported on your 2015 SMSF annual return at Section H, you may be included in the sample of trustees that will be invited to take part in the survey.
What you need to know:
- Participation is voluntary;
- Responses will remain anonymous;
- The process aims to take between 5 and 7 minutes;
- Officers running the survey are members of the Australian Market & Social Research Society and as such are bound by the a strict code of professional behaviour;
- Information collected from the survey will not be sourced for compliance determinations.
The ATO encourages all trustees who are invited to participate to take advantage of this opportunity to provide feedback on the LRBA process and how effective they are in acquiring assets for SMSFs.
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