CGT in a SMSF . When dose it stop ?

Pensions are a financial product. AFSL required. The advice in respect of CGT is tax advice and the financial planner should also hold TPG Registration to comply but a tax adviser alone cannot comply.

Corps Regulation 7.1.29 applies to all persons excepting the limitation of 7.1.29A which is the accountants exemption (ending 30 June) which only applies to 7.1.29(5)(ii).

 

Yes i agree the pension asoect is financial advice. Without looking at the regs I dont thinknthe accountants exemption would apply to this though.

 

Terry

I'm really only interested in the tax / legal aspect of this .

Even if I saw a financial advisor who said we're better off to hold it , I'd disagree .

So far , while managing our SMSF , our balance went up over the 1-2 year period after the GFC ( while everyone else got hammered ) and we've subsequently close to doubled our equity in the last 4 years.

Any way the advice we'd probably get is that we're too heavily weighted in property ( in fact everything is in property .... deliberate while Sydney boomed ) and we should diversify, and this will enable us to do that .

Cliff

 

The trouble is this is part financial advice and part tax law advice and part general legal advice.