Hi,
I'm looking to set up an SMSF and have a query regarding how establishment costs of the fund can be treated in the fund. These costs are approximately $1,500 and include corporate trustee set up fees and SMSF trust deed.
I note this question is somewhat related to this one: https://community.ato.gov.au/s/question/a0J9s000000RUnlEAG/p00225699?referrer=a0N9s000000DacBEAS
I note that in the above ATOCertifiedResponse that these establishment costs should NOT be reimbursed.
I understand the establishment costs are NOT tax deductible.
My questions:
1. Assuming the trust deed allows, can the establishment costs be treated as a member contribution to the fund?
2. If yes to the above and assuming the trust deed allows, can the establishment costs be treated as concessional contributions?
If you could please provide a link to some form of ATO guidance supporting your response it would be greatly appreciated.
Thank you
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