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MyEd(Newbie)Newbie
31 July 2024

My SMSF was set up a month ago now pending rollover, hence, It has nil balance and no transaction. Now I am thinking twice about moving to SMSF.


Questions I have,

  1. If I abort the plan to move to SMSF and remain with my current Superfund, do I need to wind up my SMSF ?
  2. Can I leave my SMSF idle ? Is there a time limit to keep a SMSF inactive ?
  3. Do I still have to report if the SMSF has zero balance ?


308 views
4 replies
308 views
4 replies

Most helpful response

All replies

Bruce4Tax(Taxicorn)Taxicorn
31 July 2024

  1. The SMSF does not exist till it has assets - no assets means no need to wind up because there should be no TFN or ABN
  2. No - see # 1
  3. No - see # 1


MyEd(Newbie)Newbie
31 July 2024

Thanks Bruce.

My SMSF is a complying fund it has TFN and ABN and bank account but nil balance. Do I still need to report ?

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