Questions of the Week – 2 SMSFs and Collection House (CLH)

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Question: I have two SMSFs. I want to close one down. Can I transfer my shares from one to the other with a white transfer form?

Answer: Yes, you can use a standard transfer form. If your shares are broker sponsored, then you will probably need to engage your broker to do this.

One word of caution: if your SMSFs have different trustees and the members of the SMSFs are different, then a transfer may constitute a disposal for CGT purposes. This may not be an issue if your funds are in pension mode, but if in accumulation, tax may be payable. You may want to get advice on any tax aspects before proceeding with any transfer.

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