Rollovers from one SMSF to another must comply with the technical requirements. Elizabeth Wang from Townsends Law has summarised those requirements to save you time.
SMSF members
SMSF member limit to increase from four to six
One of the key changes from this year’s budget is the Government’s proposal to increase the maximum permitted number of members in a self-managed superannuation fund (SMSF) from four to six.
Proposed increase in SMSF members from 4 to 6
In the 2018 Federal Budget the Government proposed increasing the limit on the maximum allowable number of members in an SMSF (and a Small Apra Fund or SAF) from four to six members. This change is proposed to take effect from 1 July 2019. Currently the maximum allowable number of members is four with the clear majority of SMSFs having either one or two members only.
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