As the establishment of new SMSFs continues to rise, the ATO is reminding potential trustees to ensure they are aware of the different requirements depending on whether their fund has individual trustees or a corporate trustee.
The SMSF Association has suggested practitioners servicing the sector must equip themselves with more than just technical knowledge in an era of rapid technological change to provide a robust advice proposition to clients.
Proceeds from the sale of small business using the 15-year CGT small business exemption is not a rollover to a superannuation fund, but rather a contribution.