Taxation of SMSFs
Super funds are subject to similar taxation as other types of taxpayers. However, there are a number of specific provisions that apply to super funds. Trustees should be well informed of their taxation obligations.
Learn about the taxation of income and capital gains within a super fund and what rate of tax applies for a super fund paying an income stream to members, or in accumulation phase, before you retire. Very importantly, learn about the additional tax that applies if the SMSF breaches the super rules.
By the end of the book, this is what you will know:
- Explain the sole purpose test
- Specify the rules applying to collectables and personal use assets
- Identify who is a related party of a self-managed super fund
- State the prohibition of providing financial assistance and loans to members
- Outline the rules regarding acquiring assets from related parties
- State the requirement to invest on an arm’s length basis
- Define an in- house asset of a self-managed super fund
- Explain the borrowing restrictions and exceptions for SMSFs
Downloading this eBook will also give you access to special bonus offers within Spring Financial Group.
This eBook does not substitute professional tailored financial advice. If you wish to meet with an adviser please Make an Appointment.
SMSF TRUSTEE PROGRAM – MODULE 6 OF 7
