Rollover form – transfer of benefits

The rollover form for transfer of benefits from an external fund to my SMSF lists employer contributions received by it for this financial year. Are they taxable within my SMSF or would they have already been taxed in the hands of the other fund?

A: As the employer contributions were received by the other fund, they will be taxed by that fund.  You need this information in case the ATO contact the old fund about excess contributions tax.  They would tell the ATO that those contributions were moved to your SMSF and then the ATO will follow that fund up.



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