After nearly two decades, the SMSF lending market has matured into a stable and well-regulated segment – yet complexity and misconceptions persist. Bluestone Home Loans head of specialised distribution, Richard Chesworth, joins host Keith Ford to break down the nuances of limited recourse borrowing arrangements (LRBAs).

From redrawing for property repairs to understanding offset structures and pre-2018 grandfathering rules, Chesworth highlights that success in SMSF lending depends as much on precision and teamwork as it does on opportunity.

Listen as they discuss:

• How advisers can work through the complexity that still exists in SMSF borrowing.
• What technical traps remain and how redraws, offsets, and refinancing can trigger compliance risks.
• The importance of collaborating closely with lenders and prioritising expertise and structure over rate alone.

The announcement this week from the government outlining the changes to the $3 million super tax was met with relief, but there are still many unknowns. On this episode of The SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn unpack the changes from the initial proposal to the current version released this week.

The discussion emphasises that while the major concerns of taxing unrealised gains and lack of indexation have been addressed, many technical details still need to be clarified through the legislative process and further consultation.

Listen as they discuss:

• Taxable earnings: Originally, the tax applied to all earnings, whether realised or not. The revised measure will only tax realised gains.
• Indexation: The $3 million threshold will be indexed against the Consumer Price Index (CPI) in $150,000 increments, pegged to transfer balance cap movement. The $10 million threshold will be indexed in $500,000 increments, also aligned with CPI.
• Tax rates: For balances above $3 million, an additional 15 per cent tax applies to earnings. For balances above $10 million, an additional 10 per cent tax applies to earnings.
• Start date: The effective start date has been moved to 1 July 2026, with the first assessments issued in the 2027–2028 financial year.
• Liability: The tax liability remains with the individual, who can pay it directly or seek a release from their super fund. The ATO will calculate the tax.
• Consultation: There is optimism for constructive consultation on the implementation details, particularly regarding how realised earnings will be calculated for APRA funds and SMSFs, and the treatment of CGT discounts and pre-2026 asset gains.

Updated legislative and regulatory instruments were added to the ever-expanding cache in the SMSF sector last month. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn unpack what it all means with Bryce Figot, special legal counsel for DBA Lawyers.

Figot delves into the changes made in LCR 2021/2 and TR 2010/1, focusing on non-arm's length income provisions and contributions and specifically how they may affect professionals working in the sector.

Listen as they discuss:

• The new "safe harbour" example (7A) in LCR 2021/2.

• Paragraph 51, outlining discounted prices for SMSF services.

• Contribution updates in TR 2010/1 that clarify how acquiring an asset for below-market value is not a contribution if it's a purchase under a sale contract.

• The importance of proper documentation and arm's length valuations that are crucial for mixed part-purchase and part-contribution scenarios.

• The disproportionate outcomes that still exist where small non-arm's length capital gains can taint entire net capital gains or distributions from unit trusts.