So for instance, if one took the surplus of $1.6m and...

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uraniumu308

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06/12/17

21:05

Post #: 29433251
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Originally posted by cafa ↑

Thanks MyFirstInvest.

'So if you set up a second SMSF and have assets segregated, that’s all fine but as soon as you start playing around and manipulate funds between retirement and accumulation phase then we’re going to have a closer look and ask people what’s going on there.”''

I guess the follow up question is what does 'playing around' mean. It would be good if the ATO have some examples of what is OK, and what is not OK. Always appreciating that there will one a large areas of grey in the middle. Without guidance it creates all sorts of regulatory challenges.

So for instance, if one took the surplus of $1.6m and transfered this now accumulation account into a seperate fund, and assuming it was all cash at the point of transfer, would this be OK. Subsequently one could buys stocks in the accumulation fund.

My view is that as long as it was dealt with using a seperate SMSF bank account and seperate trading account it should be good. However I don't see how one could have a second SMSF using the main bank account in the first place - surely it has to be a seperate account.

Am I missing the point?

best.

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So for instance, if one took the surplus of $1.6m and transferred this now accumulation account into a separate fund

Much easier to pay 15% tax on the excess over $1.6M because you are still paying 15% in an accumulation account so why go to all that trouble running two accounts?
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