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Rollover from retail fund to smsf

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Dissed, 12th Sep, 2013.

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  1. Dissed

    Dissed Active Member

    Joined:
    28th Aug, 2008
    Posts:
    34
    Location:
    Sydney, NSW
    Hi

    I have my employer contributions in a retail superfund (CFS). A year ago I started smsf with my wife. I want to roll over my funds in the retail fund into my smsf. Will it trigger tax issue like capital gains? What is the best way to go about doing it to minimize tax payable.
     
  2. Andrew Newman

    Andrew Newman Well-Known Member

    Joined:
    5th Nov, 2008
    Posts:
    175
    Location:
    Melbourne
    Hi Dissed

    To roll over funds from one super fund to another, investments held in the original super fund will have to be sold and the cash transferred to the new super fund, potentially realising some capital gains. Your options if any to minimise tax, will depend on your personal circumstances such as your age.

    Once you transfer the cash to your SMSF, how are you going to invest this cash?

    Kind Regards
     
  3. Dissed

    Dissed Active Member

    Joined:
    28th Aug, 2008
    Posts:
    34
    Location:
    Sydney, NSW
    Hi Andrew

    Sorry for the delay. I will be 60 on 26/3/14, so no capital gains tax - hurray.

    I have reasonable record last 10 years using Weinstein method and intend to follow it. Some funds will go to value fund managers to remove investment style risks.