Reducing tax in your SMSF

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There are some effective, and often quite simple, strategies to reduce the tax payable in an SMSF that many fail to take advantage of. Nomination of beneficiary Those who nominate a spouse, child or financial dependent as a beneficiary may avoid paying tax on a lump sum death benefit. Delaying TTR commencement Members looking to…

Using the CGT discount

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A capital gain is a profit made from the sale of an asset. Your capital gain is calculated as the difference between what you paid for the asset and what you eventually sold it for. A capital gain is considered by the ATO as part of your assessable income and is taxed at your marginal…