Superannuation 2019

Separate SMSFs for collectables

Source: Taxation In Australia Journal Article

Published Date: 1 Apr 2019


As part of the superannuation reforms which came into effect on 1 July 2017, self-managed superannuation funds (SMSFs) with at least one member in receipt of a retirement phase income stream, with a total superannuation balance over $1.6m, are no longer able to use the segregated method to calculate exempt current pension income (ECPI). One strategy which emerged to counter this restriction involved achieving a quasi segregation via separate SMSFs. The Australian Taxation Offi ce (ATO) has expressed the view that this will only be acceptable in limited circumstances and where the aim is not to manipulate taxation outcomes. This article examines the holding of collectables by an SMSF as a circumstance where a separate SMSF might be strategically useful as well as acceptable from an ATO point of view.

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Superannuation 2019

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