Our recent article last chance to transfer shares into super is no longer relevant. The government on Wednesday the 29th of May 2013 decided to abandon the proposed off-market transfer transfer shares into superof share into super. The key reasons for abandoning the proposed changes are due to the costs and complexity the changes would have been to introduce.

We welcome the decision to abandon the changes to off-market related party transfers as investors will continue to be able to transfer shares into superannuation via in specie without incurring high brokerage costs.

The changes also extend to other related party transfers including some collectables. It would have been extremely difficult to find professional valuers who would have the necessary experience and knowledge to value a collectable.

For more information please see http://www.spaa.asn.au/library/spaa-in-the-media/off-market-transfer-legislation-abandoned.aspx#.Ua5lh75–M8

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Thomas Jacks BCom (Acc), SMSF SpecialistTM, Adv. Dip F.S. (FP)
“I want to be able to assist clients with their investment and retirement planning by providing real strategy advice. It’s my aim to not only help my clients but to educate them by addressing the entire picture” Google Plus

Categories: General News, Self Managed Superannuation, Shares, Superannuation   |  Posted on
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