Super

Discussion in 'Accounting & Tax' started by thesuperman, 13th Jul, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. thesuperman

    thesuperman Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    208
    Location:
    Somewhere
    If there is a capital loss from an investment in a SMSF and you were to close down that SMSF & open up a new SMSF, can you transfer that same capital loss to the new SMSF? Or not since it would be a brand new entity?
     
  2. Property Hoarder

    Property Hoarder Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    46
    Location:
    Melbourne
    Why set up a new fund?

    Difference entity, can not be transferred.
     
  3. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

    Joined:
    18th Jun, 2015
    Posts:
    14,439
    Location:
    Remote
    Interesting question. Loses can't be transferred between entities usually.

    Why do you want to roll your balance over to a new fund? Estate planning reasons or asset protection?
     
  4. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    5,498
    Location:
    Sydney
    Answer is no. The CGT loss is lost.
    It can be costly to migrate from one fund to another. Allow for possible stamp duty on investments perhaps. Get financial advice.