Borrowings for limited recourse borrowing arrangements
V1, V2 and V3 and V Borrowings
Show at labels V1 to V3 the total value of each type of outstanding borrowing by the SMSF (including accrued interest) on 30 June 2018.
Label V1 - Borrowings for limited recourse borrowing arrangements
Show at label V1 the value of outstanding borrowings held under all limited recourse borrowing arrangements at 30 June 2018.
Do not include the value of the assets held under the limited recourse borrowing arrangement here.
The values of the assets held on trust under limited recourse borrowing arrangements are to be included at J1 to J6 and the total at J of item 15b.
Label V2 - Permissible temporary borrowings
Show at label V2 the value (on 30 June 2018) of any permissible temporary borrowings held by the SMSF.
Permissible temporary borrowings are those borrowings allowed under subsections 67(2), (2A) and (3) of the Superannuation Industry (Supervision) Act 1993.
Label V3 - Other borrowings
If the SMSF had any other outstanding borrowings, show at V3 the value of all other borrowing amounts on 30 June 2018.
Label V - Borrowings
The total at Show at label V is auto-calculated by MYOB Tax and is the sum of V1, V2 and V3.
Label W - Total Member Closing Account Balances
Show at label W the total of all member account balances shown at label S Closing account balance in Section F and G. This amount will be automatically calculated by Tax and is the sum of all instances of the member worksheet xF balances.
Label X - Reserve Accounts
Show at label X the total assets not allocated to any members as at the SMSF's balance date.
