2022 BRN Discussion, page-2941

Hi FF,

Firstly, a massive congratulations to yourself and every other LTH that had the belief and conviction to see it through.

BRN will be the gift that keeps on giving for decades to come...

I have a question i hope yourself and/or others can help me with.

I have my Super in Aus Super Member's Direct and i am looking to convert to an SMSF towards the end of this year.

Reason being, i have far exceeded the 80% self allocation so therefore any monthly employment contributions have to go to the mandatory Aus Super investment option or cash until the ratio is back to under 80% which won't happen. I already have a certain amount "stuck" in cash which to me is dead money. I'm also not interested in contributing further into Aus Super investment options as i believe the whole Superannuation generic system is an absolute scam with the majority having the wool pulled over their eyes and i want to move away from this and have full control.

When i convert to a full SMSF do my share holdings/porfolio from Member Direct carry over to the SMSF or do the holdings have to be sold down and the balance is then transferred to the SMSF?