In-specie transfers out of an SMSF
There are many reasons you may want to transfer an asset out of your super fund into your own name, but there are processes you need to follow.
Articles by Garth McNally
What are the SMSF residency requirements?
Proposed legislation will relax the residency rules for SMSF members, but until then it pays to understand the current rules before heading overseas for an extended stay.
What are the key differences between SMSFs and public offer funds?
SMSFs are a popular option for people who want more control of their retirement savings, but it’s important to understand how they compare to large super funds.
Webinar: Super strategies for your SMSF
Are you making the most of having an SMSF? In this webinar we will cover strategies only available to SMSFs, including access to certain investments, effective tax and estate planning, as well as the benefits of investing as a couple or family.
Q&A: Transfer balance account, minimum pension requirements and the 1 June rule
Q: If I start a Pension in my SMSF after 1 July 2023 with a Transfer Balance Cap (TBC) at $1.9 million and Transfer Balance Account (TBA) at $1.9 million (but do not take a Pension payment until after 1 June 2024,) does it means that I do not have to use any of my 4% minimum pension drawdown for the 2023-24 year? If that is the case, does my total balance account increases by the earnings allocated to my Pension Account as at 1 July 2024? If the above is correct, how does this affect my tax-free status of earning in Pension Account for the 2023-24 year? I am assuming the tax free status remains in place?
SMSFs and estate planning: Issues to consider after the death of a SMSF member
In this article in our SMSF and Estate Planning series, we focus on key issues within your fund.
Webinar: SuperGuide members Q&A: December 2023
In this webinar super expert Garth McNally will answer recent questions from SuperGuide members.
SMSFs and estate planning: Key issues that SMSF trustees need to know
The third article in our SMSF and Estate Planning series focuses on estate planning issues trustees need to consider on the death of a fund member.
Webinar: Navigating the aged care system
The aged care system is notoriously complex. This webinar will outline the aged care landscape including how to access help in the home or get into residential aged care and the costs involved.
Q&A: Does the previous year’s balance affect the minimum pension amount?
Q: My wife and I are both over 70 and are the only members of our SMSF. On 30 June, my wife had a nil balance in our SMSF but will make a $300,000 non-concessional contribution in July and commence an account-based pension at the 5% rate. Does her nil balance in the previous financial year predetermine the amount of pension she is permitted to take, from an ATO perspective?
Q&A: When I retire, can I transfer the cash assets to my share of the SMSF?
Q: I am about to retire but my partner is still working. There is one property, some shares and cash in the SMSF. My partner and I have 50% share each. Moving to retirement, can I transfer all cash to my share of the fund into retirement phase? The value of cash is 25% of total fund.
Q&A: Can an SMSF invest on a “tenants in common” basis in commercial property, funded by a mortgage?
When we’re looking at joint ownership of property, there are a few things that we need to consider. There are really two quite distinct ways that direct property interest can be held when there’s multiple owners.
How lump sums can reduce your transfer balance account
If you are considering taking more than the minimum amount from your super pension account, the way you do it counts.
Q&A: Is a lump sum super payment taxed if I’m under 60?
Q: Assuming a member turns 59 on the 9th of May 2023, and sets up a full pension fund to commence from 1 July this year (2023) shortly, when that member withdraws the lump sum before the 9th of May 2024 (next year), aged then 60, is the lump sum subject to tax or not?
Q&A: Can we use a recontribution strategy at 70 if we have a large transfer balance?
Q: Can a recontribution strategy work where an SMSF has 2 members aged 70 and 68 with current member balances of $1.7 million each and transfer balance caps of $1.6 million each?
SMSFs and estate planning: What fund members should consider and plan for
The second article in our four-part “SMSF and estate planning series” covers the key issues for trustees when it comes to estate planning within their self-managed fund.
SMSF loans: What are the SMSF borrowing rules?
The ability to borrow to invest gives SMSF trustees additional flexibility when choosing investment assets, but it’s not open slather. Strict rules apply.
Webinar: Transition-to-retirement pensions: Strategies and benefits
In this webinar, Garth will take you through the key benefits of using a transition to retirement pension; from tax planning to achieving better estate planning outcomes. This webinar is a must for all readers approaching or considering retirement.
