281. Bonus Budget Episode: The latest on SMSF and Testamentary Trust Changes
The federal budget keeps changing, and this time it's SMSFs and trusts feeling the impact. Tash and Ana break down two surprise updates: a ban on SMSFs borrowing to buy residential property, and a new minimum tax on discretionary trusts that had the estate planning world in a spin.
In this episode we'll discuss:
💸 What an SMSF actually is, and how it differs from a regular super fund
💸 What an LRBA is and how people were using it to buy property inside their super
💸 Why this ban wasn't even in the original budget, and why that's got people a little salty
💸 What a testamentary trust is and why…
The skinny
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