If a SMSF is correctly set up, it can accept contributions and rollovers. All contributions will generally be deposited into the fund’s bank account. Contributions may be made by cheque, electronic transfer, periodic payment or transfer of assets into the fund in accordance with the law. Importantly, all contributions made to the fund must be identified as to what type of contribution the money/assets represents.
In addition to contributions members may also wish to transfer their existing superannuation entitlements or part of the results from the sale of an eligible small business into the SMSF.
Our team can advise on the following contributions:
Contact our team to discuss these important issues and ensure you have the right advice. Our team will provide you with up to date information and legal advice to guide you through your legal issues.
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