Frequently Asked Questions

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FAQ: What is Safe Harbour for Self Managed Super Funds and how does it affect me?

The Safe Harbour provisions as announced by the ATO in Practical Guidance Statement 2016/5 (PCG 2016/5) concern related party limited recourse borrowing arrangements (LRBAs). There have been rumblings by the ATO for some time now about their concerns regarding non-arms’...
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My wife and I share a SMSF with our Australian resident children.  We plan to move overseas indefinitely.  Can we still be members of our SMSF?

FAQ: My wife and I share a SMSF with our Australian resident children. We plan to move overseas indefinitely. Can we still be members of our SMSF?

It is possible to remain a member of your SMSF, however there are certain requirements that would need to be met in order to meet the superannuation rules. A full picture of SMSF residency issues can be found in the...
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Does it matter if I make my pension reversionary to someone else or should I leave it as non-reversionary?

FAQ: Does it matter if I make my pension reversionary to someone else or should I leave it as non-reversionary?

The question of whether to make a pension reversionary was easy to answer a few years ago as there were substantial tax advantages to such an arrangement. Before 1 July 2012, upon the death of a member with a non-reversionary...
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FAQ: Can I transfer my BHP shares into my SMSF?

Yes, you are able to transfer your BHP shares into your SMSF as long as they are transferred at market value. Although SMSF trustees are generally prohibited from buying assets from members or related parties; an exception exists where trustees...
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FAQ: I am 45 and have just lost my job. Can I access my super to see me through until I find another job?

It is common for people to start looking at their superannuation balances when under financial stress, however although it is your personal superannuation account, it is generally difficult to withdraw any benefits until retirement. For most of us, our superannuation...
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Your SMSF can borrow money to purchase a single acquirable asset.

FAQ: Can my SMSF borrow money to invest?

Through what’s known as a Limited Recourse Borrowing Arrangement, your SMSF can borrow money to invest in a variety of assets.

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Can you access your SMSF money early?

Can I access my super to see me through times of financial hardship?

In times of financial stress, illness or injury, can you withdraw the money from your super fund? The answer relies on meeting various criteria.

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What is an actuary’s certificate and when do I need one?

Assessing whether a fund needs an actuarial certificate is one requirement for an SMSF trustee claiming Exempt Current Pension Income (ECPI).

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Can my SMSF buy my business premises?

SMSF trustees are generally prohibited from buying assets from members or related parties. However, there are exceptions, as well as conditions to meet.

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Can you trade in exchange-traded options in your SMSF?

Can I trade in exchange-traded options in my SMSF?

Attracted by tax concessions, some SMSF trustees are looking to invest in complex derivatives within their funds, such as the use of exchange-traded options.

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