Hi I have set up SMSF and now the cash hub (bank account) is up and running. Can I start reimbursing expenses (i.e. transfer to my personal account) that I incurred previously such as:
Thanks!
Yes
No tax deduction for SMSF startup costs.
are we allow to reimburse ASIC fee for corporate trustee as well? The link you shared mentioned below "Keep in mind that SMSF establishment costs are capital expenses and can’t be claimed as a deduction. You can’t be paid for any trustee duties, even if you set the fund up yourself. If your fund uses a corporate trustee, ASIC registration and annual fees will apply."
It means we are allowed to transfer ASIC fee from SMSF cash hub back to our personal account?
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