If a Self-managed Superannuation Fund (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. Legislation of contributions are regulated and it’s important you comply with all of the Australian Taxation Office (ATO) obligations.
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:
- Concessional contributions
- Non concessional contributions
- Spouse contributions
- Splitting contributions between couples
- In-Specie contributions
- Roll-over and transfers
- Self employed contributions
Want to know more about Superannuation Guarantees?
It’s important to discuss your position as soon as possible. Each client has their own personal and unique circumstances.
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 regarding superannuation guarantees and SMSF’s.