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

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

  1. SBE

    SBE New Member

    Joined:
    19th Mar, 2015
    Posts:
    1
    Location:
    QLD
    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....
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    "You" purchased or the SMSF did?

    Sounds messy and possible issues.