ATO to survey SMSFs on use of LRBAs to acquire assets

The ATO will be contacting some SMSFs to conduct a survey on the use of LRBAs to acquire assets.

“In November 2016, we are contacting some self-managed super fund (SMSF) trustees to participate in a survey about the use of limited recourse borrowing arrangements (LRBA) to acquire assets for their SMSF,” said an ATO statement.

“We are conducting this survey as part of research to learn more about SMSFs’ use of LRBAs. Participation is voluntary and responses will remain anonymous. The information gathered from the survey will not be used for compliance purposes.”

“Our officers who are running the survey are members of the Australian Market and Social Research Society and are bound by the Society’s strict code of professional behaviour.”

The ATO will contact a sample of SMSFs that reported LRBAs in the 2015 annual return via email and invite them to participate in the survey.

“If we contact you, we encourage you to participate as your feedback will help us to gain a better understanding about the SMSF community’s use of LRBAs. The survey should only take five to seven minutes and your contribution will be greatly appreciated,” said the ATO.

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