When the Super Fund sells any shares does it have to pay CGT on any profits & if so at what rate. Before all assets are distributed to benefiters
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From 1 July 2012, Income Tax Assessment Amendment (Superannuation Measures No. 1) Regulation 2013 ensures that, where a member who was receiving a non-reversionary super income stream that was in the retirement phase dies, the fund will continue to be entitled to claim ECPI in the period from the member’s death. This is until their benefits are applied to commence a new super income stream or paid as a lump sum (subject to the benefits being cashed as soon as practicable).
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From 1 July 2012, Income Tax Assessment Amendment (Superannuation Measures No. 1) Regulation 2013 ensures that, where a member who was receiving a non-reversionary super income stream that was in the retirement phase dies, the fund will continue to be entitled to claim ECPI in the period from the member’s death. This is until their benefits are applied to commence a new super income stream or paid as a lump sum (subject to the benefits being cashed as soon as practicable).
Thanks, downloaded the ATO enquiry. & Asked for clarification of # 66019 posted to their Penrith NSW Office
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