The Australian Taxation Office has pushed back the deadline for self-managed superannuation fund trustees to ensure that any borrowing arrangements are structured on an arm's length basis. The deadline has been extended from June 30 to January 1 next year.Earlier this year the ATO issued guidelines setting out "safe harbour" terms for loans by related parties to self-managed funds.The safe harbour conditions for real property loans include:•    a written loan agreement;•    use of the Reserve Bank indicator lending rate for the current financial year (which is 5.75 per cent for 2015/16);•    a maximum loan term of 15 years, with a maximum five-year fixed interest period included in that term;•    a maximum loan-to-valuation ratio of 70 per cent;•    a registered mortgage title;•    monthly principal and interest repayments; and•    no requirement for a personal guarantee.Gadens Lawyers partner Jon Denovan said SMSF limited recourse borrowing arrangements that did not meet all these terms could still be acceptable if the fund trustee could demonstrate to the ATO that the arrangement was struck at arm's length.Denovan said the trustee would have to show that the terms replicated commercial terms available in the market.Lenders offering SMSF loans may benefit from the change, which will result in related part lending to SMSFs losing much of its appeal.