If the SMSF is short on cash to roll over a member’s benefits it is possible for a member to transfer a property ‘in specie’ to another SMSF.
SMSF rollover
ATO confirms that a rollover/benefit transfer to an SMSF will be treated as a contribution for the purposes of the active member-test
The ATO has confirmed the long held view that a rollover/benefit transfer to an SMSF in respect of a member will be treated as a contribution for the purpose of applying the active member test. This test is one of three tests which is used to determine whether a complying superannuation fund has lost its […]
Townsend Lawyers is a leading independent law firm, specialising in commercial and business law, corporate advisory, tax, estate planning, superannuation, insurance, trusts and SMSFs.