I am 58, should I have an income portfolio AND a growth portfolio. Also what are the tax implications of selling shares within SMSF e.g. If I sell my Santos shares, is there a high CGT or (within the SMSF) is it taxed as a day trader would be?
Thanks.
A: Thanks for the question.
Super funds can’t be treated as day traders – this change was made several years ago – so the normal CGT rules apply.
When a super fund sells shares, the gain will be taxed at 15% if the assets are in accumulation phase, or 0% if the assets are supporting a pension (tax free). If the asset has been owned for more than 12
months, only two-thirds of the gain is taxable, which effectively brings the effective tax rate in the accumulation phase down to 10%.
Regards.
