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.
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.
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.
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 acquire listed securities at market value.
The savings built up in your SMSF represent a significant source of capital you can use to further grow your wealth. However, there may come a time when it’s not enough.
One of the advantages of an SMSF trustee commencing an income stream in his or her super fund is that the income and capital gains on the assets supporting the pension account become tax free.
