Can an SMSF still apply for Capital Gains Tax uplift?

Can an SMSF still apply for Capital Gains Tax uplift?

While the lodgement date for a 2017 self-managed superannuation fund annual return has passed, some SMSFs may have yet to submit their tax return. The due date was 30 June 2018. However, as the due date falls on a weekend, lodgement no later than Monday 2 July 2018...
Can a Self Managed Superannuation Fund receive gifts?

Can a Self Managed Superannuation Fund receive gifts?

When the Federal government first introduced the legal structure of a Self Managed Superannuation Fund (SMSF) into the Superannuation Law on 8 October 1999, it was mainly intended for family members who operated small businesses together.  Due to the Superannuation...
Bitcoins in SMSF

Bitcoins in SMSF

Bitcoin, introduced on 3 January 2009, is an electronic currency known as “cryptocurrency”.  It is a form of digital public money that is created by mathematical computations and policed by millions of computer users called “miners”.  In essence, it is electricity...
Treatment of carried forward capital losses existing at 30 June 2017

Treatment of carried forward capital losses existing at 30 June 2017

As part of the new superannuation reform, eligible Self Managed Superannuation Funds (SMSFs) can utilise the transitional Capital Gains Tax (CGT) relief to reset an asset’s cost base to market value either at the cessation time or 30 June 2017. The cessation time...
Segregated Capital Gains Tax Relief

Segregated Capital Gains Tax Relief

From 1 July 2017, SMSF members are limited to having $1.6 million (i.e. Transfer Balance Cap for 2016/2017) in their retirement pension account (i.e. Account Based Pensions (ABP)) where ordinary and statutory income (investment income) derived from assets supporting...