Information for advice professionals only.
Legislation was enacted just before the end of the financial year that means from 1 July 2021, it is now possible to have up to 6 members in a SMSF. In this podcast, we look to the benefits and risks of raising fund membership. We also explore changes made to the capital gains tax treatment of granny flat arrangements that also took effect from that date.
Listen to the podcast below or download the technical podcast 16/07/21 transcript.
You can also access this podcast via Soundcloud.
Things you should know: This commentary has been prepared by Westpac Financial Services Limited for use by advisers and must not be made available to any client. The commentary provides an overview only and should not be considered a comprehensive statement on any matter or relied upon as such. Projections given are predicative in character and whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This commentary may also contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of, or endorses any such material.