Super

Discussion in 'Superannuation, SMSF & Personal Insurance' started by thesuperman, 13th Jul, 2016.

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  1. thesuperman

    thesuperman Well-Known Member

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    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?
     
    thesuperman, 13th Jul, 2016
    #1
  2. Property Hoarder

    Property Hoarder Well-Known Member

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    Why set up a new fund?

    Difference entity, can not be transferred.
     
    Property Hoarder, 13th Jul, 2016
    #2
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    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?
     
    Terry_w, 13th Jul, 2016
    #3
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    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.
     
    Paul@PAS, 14th Jul, 2016
    #4