Many people believe that as the ‘beneficial ownership’ has not changed, i.e., the member is still the owner, that there is not CGT event.  However the tax legislation states otherwise.

Section 104 – 60 of the income tax assessment act 1997 states that if you transfer an asset, i.e. a property between Self Managed Superannuation Funds (SMSF) CGT event E2 is triggered - transferring a CGT asset to a trust. 

A SMSF is a trust for tax purposes and therefore falls into this category.

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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