General Comments / Chat, page-3520

Also, one needs to keep in mind that if he/she transfer shares to SMSF, it will create a CGT event and the person will need to pay tax on his/her capital gains as of the day of transfer to SMSF.

I don't have SMSF but I wish I had. The two things that are holding me back are:
a) I will need to pay CGT. It's going to be big as I hold shares from 50c (average)
b) Let's say if I create an SMSF, what if a deal (between RAC and a prospective buyer) is reached before 12 months from my transfer date?
On the side note, it takes some good effort to create a smsf.
But I hope I will gather the courage soon to go ahead to create smsf. Then to find a good accountant who knows well enough about smsf...phew