The in-house asset rule exemption for Business Real Property should be extended to include all other assets that have an independent value (eg. listed shares). 1.2 The current s 71DA concession is inadequate for geared unit trusts established adjacent to the 12 of May 1998 change. As a result, in order to comply with the new rules these infant arrangements will be the forced to unwind, causing loss of members funds, unless specific relief is provided. 1.3 An alternative approach could be to allow a superannuation fund to acquire further units in the unit trust, thereby lowering gearing and permitting compliance with s 71D. This would create consistency with the position of funds that hold partly paid units, who are permitted under ss 71A to 71E to contribute additional capital to a unit trust through payment of the outstanding script value of the unit.
maintenance