Business in SMSF - purchase of assets but have decided not to proceed ??

Discussion in 'Superannuation, SMSF & Personal Insurance' started by SBE, 19th Mar, 2015.

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  1. SBE

    SBE New Member

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    Business in SMSF - purchase of assets but have decided not to proceed ???

    Good afternoon. Looking for some input. I purchased some assets in order to commence trading a (retail) business in my SMSF. I then ended up in personal circumstances which mean I am not presently in a position to commence trading, but I am having difficulties selling many of the assets and am not sure what to do. Several items I am selling are selling at a loss.

    Does anyone have any internet information / ATO information they can direct me to? (or any personal experience to provide comment(s)).

    I am not sure what to do....
     
    SBE, 19th Mar, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    "You" purchased or the SMSF did?

    Sounds messy and possible issues.
     
    Terry_w, 22nd Mar, 2015
    #2