I have an SMSF where both members have a pension account and accumulationn account each. My accounting system makes the segregation and allocation easy. However in the end of year accounts when the member's statements are being prepared are both these accounts merged to give one statement or are two statements (one Pension Account and one Accumulation Account) prepared? Similarly when Member Details are included in the Tax Return are both Accounts merged?

Hi, i have received a tpd payout which i have paid tax on and my question is whether i need to disclose this on my tax return. I do not see the need to as i have already paid the tax, Hope you can help !

Hi All,

Hoping someone might be able to point in the right direction.
Looking for information on medical retirement < 55yo specifically around paid work once retired. Are there any restrictions, rules/regulations different to someone retiring at 60yo?

Does the situation change if the fund is a defined benefits scheme (SASS).

Its not the "how to get medically retired", its the "what happens when your told".
Oh and its not me either

Cheers

Hi All.

Quick question, I have a investment with the now default Great Southern for High Value timber which has been taken over by Lowell Capital and the investment now looks like it is back on track. (thankfullty).

As I financed the purchase of this can my SMSF buy the asset from me to free up cash to allow for me to make another purchase (investment property)

if this can be done I would like the SMSF to buy outright the investment from me which in the long term would be better as the returns would be tax lower than if it was in my name (which is currently is)

thoughts?

Cheers

Simon

Hi Team

Just after a sanity check here on my plans to make sure all is cool

We are looking to purchase a 600 ACRE Farm with our SMSF, the house on the Farm is new and built to lock up with some work to complete. This is a working farm and carrier 50-100 head of beef. Farm has 2 Hectare closed off for house as per SMSF rules for Rural buying

Plan is to do the following

1. Buy the farm via SMSF (WITH LENDING) but 30% from the SMSF (St George will do 72% LVR)
2. Use $60K from SMSF to complete home (mostly Electrical and plumbing) as this is a remote property and needs to be self suffficent (solar power etc)
3. Run the farm as a working business between the members of the SMSF (My wife and I) plus we still both work in other roles which provide the super contributions that cover the loan installments (warrents)
4. We may have a caretaker in place as well when we are travelling for our normal jobs etc.

I just need to check that the SMSF (as I know it can buy rural land including working farms) it can contribute to the maintaince of the business real assets? For example on point 2 the new dwelling needs $60k spent on it can that come from the SMSF. Also continued development on the farm such as fencing, improvments, can the SMSF balance be used to grow this?

I know many of you will answer this and mention investment stratergy and we have others all ready but for this purchase it is a "lifestyle" choice with growth.

thoughts?

Simon