Are SMSF capital gains taxed? - Aussie Stock Forums

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  1. #1
    Retired bigdog's Avatar
    Join Date
    Jul 2006

    Default Are SMSF capital gains taxed?

    My wife and myself have just started a SMSF

    My current BT super investments include "Dimensional Strat International Equity" and "Dimensional Strategic Australian Equity" which consists of many unknown shares. We plan to sell the above and invest in direct shares in our SMSF.

    My BT superwrap account is in pension phase as will be my share in our SMSF

    I am meeting with our advisor this afternoon. Last week he mentioned capital gains of on the disposal of the "Dimensional Strat International Equity" and "Dimensional Strategic Australian Equity".

    Julia stated:
    Originally Posted by late_start
    So if you buy and sell shares inside your super account, do you pay any tax if you make any gain?

    "It depends on whether your Super is in accumulation or pension phase, ie no tax in pension phase, 15% in accumulation"

    Can someone advise if the sale of my existing Dimensional Strat International Equity" and "Dimensional Strategic Australian Equity" will be subject to capital gains which is in pension phase?

    When I purchase direct shares in our SMSF and later sell them in pension phase, will my SMSF be subject to capital gains?

    If yes, will the 12 months rule apply for 50% being subject to capital gains?

    My wife is 62 and should her share of the SMSF be set up accumulation or pension phase? She does not work and has no income.
    DYOR, I am not a financial advisor

  2. #2

    Default Re: Are SMSF capital gains taxed?

    Bigdog, as always check with your accountant, but what I said earlier stands as far as I'm aware. i.e. anything sold in pension phase is free of tax.
    If you have joint holding with yourself and your wife and she's not in pension phase, I don't know what happens.

    When you find out, it would be good if you post it up, as it could probably apply to others.

  3. #3
    Pocket Calculator Operator tinhat's Avatar
    Join Date
    May 2009

    Default Re: Are SMSF capital gains taxed?

    I don't know what tax implications there may be of taking the money out of your current pension and rolling it over to a pension you set up under your SMSF. Note that not all of your SMSF needs to be in pension phase - some of it can be while the rest is in accumulation.

    You might need to have the adequacy of the capital base of the pension certified by an actuary.

    In pension phase the fund pays no tax.

    In accumulation phase the tax rates are currently 15% for income and 10% CGT (12 month rule applies, no 50% discount).

    It's a complicated area and the non-compliance risks are substantial. The ATO has the power to tax any portion or all of a SMSF's funds that it deems is "non-complying" at the 45% marginal tax rate. You need advice to ensure you are complying with ATO rules.

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