Ep 120: Offset SMSF - Jeremy Iannuzzelli

Offset accounts seem like a simple way to save on interest inside an SMSF. For some investors, they're quietly creating a compliance nightmare. Jeremy Iannuzzelli unpacks why some so-called offset accounts are actually just sub-accounts in disguise and how that distinction is causing real issues with auditors. He also shares what the ATO has told him directly about how trustees can stay compliant. The penalty for getting this wrong is 45% of your entire fund balance. This episode is a must watch before you assume your offset account is structured correctly. ❓👇🏼Ask your questions using the link below: 👇🏼❓ https://whatschoolshouldhave.com.au/askanyquestion Get in touch with Jeremy and his team: Website: https://www.praediumpartners.com.au/ Disclaimer: This podcast offers general financial information and advice and should not be considered as professional accounting, financial, tax, or legal advice. Listeners should seek personalised guidance from qualified professionals before making any financial decisions. The opinions expressed by the host, guests, or callers are their own and do not necessarily represent those of the podcast, its sponsors, or affiliates. The podcast does not guarantee the accuracy or reliability of any information provided. Listeners are responsible for their own financial decisions and should not rely solely on information from this podcast. Participation in the podcast does not establish a professional relationship, and information shared during calls is not confidential. By listening to this podcast, viewers acknowledge and accept these terms. If you do not agree, please refrain from listening.