Insolvency & Protecting the SMSF honey pot

  • Presentations, Technical Resource
  • Set up & management

National Conference 2023

Asset protection is a key consideration for any business or investment structure. Discretionary trusts are often the preferred vehicle. But do SMSFs offer better financial security before and during retirement? This is especially important given the CGT concessions which encourage substantial contributions to be made into superannuation and the fact that many business real properties are held by SMSFs.
 
This session will explore how super benefits are impacted by bankruptcy and insolvency including:
 
  • Asset protection pros and cons: SMSFs vs Discretionary Trusts
  • Maximising protected benefits in SMSFs
  • The impact of the transfer balance cap and total super balance
  • When are contributions and existing benefits safe from clawback and the ATO
  • What happens when the member is disqualified
  • What happens when an employer is facing insolvency.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association