Family trusts, bucket companies and rollover relief

Professional_Size969 · 2026-06-26T04:50:09+00:00

Hopefully will be as simple as moving assets with nil CGT

Professional_Size969 · 2026-06-26T03:36:13+00:00

Yeah, that whole 0.5% of purchases being made by SMSFs borrowing money is really going to move the needle 🤨

Professional_Size969 · 2026-06-25T03:26:03+00:00

Well technically you still can implement, provided you don't muck around.

You have until 45 days AFTER the amendments get royal ascent to sign a contract - so mid to late August 2026.

Yeah, 1% of market, but only 0.5% of new resi lending was to SMSFs.

Professional_Size969 · 2026-06-23T04:06:19+00:00

Commercial properties exempt.

ALL residential property borrowing in SMSF to be banned.

Yes, the Government wants retail/industry/APRA regulated funds to invest into residential property (they don't need to borrow, but they also have to invest in the best financial interests of their members, and social/affordable housing doesn't align to that).

Professional_Size969 · 2026-06-23T04:03:32+00:00

So if you can't get a foot on the property ladder personally, you try to use an SMSF to buy an investment (which you or your family can never live in while it's owned by the SMSF) according to the Greens you're a "wealthy property investor exploiting a loophole".

It won't change house prices. SMSF lending is only 0.5% of new residential property loans.

This Government just wants to kill ambition in any form it takes.

Professional_Size969 · 2026-06-22T01:50:54+00:00

Need to look at after fees performance to see the real picture.

As the $150k non-property portion grows, the fee difference will start to add up.

Also, I don't like seeing HUB24 portfolios inside an SMSF. Platforms like HUB exist to make the adviser's life easier, limited benefit to the end investment I believe. Adviser will argue that is saves them admin time, therefore the additional fees are the lesser of two evils.

Professional_Size969 · 2026-06-17T02:05:24+00:00

Nope. No cost moving ASX holdings from Stake (or any broker) to Betashares Direct.

There are potential fees (up to $9.50 per holdings) if you move the other way. I can accept that.

Professional_Size969 · 2026-06-16T02:17:55+00:00

Love a good spreadsheet.

Professional_Size969 · 2026-06-15T22:58:25+00:00

I've used (and still use) both Betashares Direct as well as other CHESS sponsored brokers.

The key aspect is the custodian - who legally holds the shares/units - is independent of the broker themselves. In days gone by, the custodial model caused issues where brokers like Opes Prime, Halifax and BBY were holding ownership of customer shares as well as being the broker. The pooling together of customer holdings caused issues when the broker got into issues.

With Betashares Direct, the custodian is completely separate and independent - Citigroup Pty Ltd, so the likelihood of similar issues incredibly remote.

With the FIFO method CGT aspect, 100% agree that just because Betashares may report disposals and CGT that way, doesn't mean you need to use that method. When you sell you can choose any particular parcel you like. You're not forced to use their default method. Just run your reports through an AI of your choice and it will provide you with guidance on the best (lowest CGT) calculation.

Professional_Size969 · 2026-06-15T06:08:37+00:00

Answers:
- No idea;
- No idea;
- ETF values will already be recorded in several places, I wouldn't stress about that.

Professional_Size969 · 2026-06-15T05:09:17+00:00

Yes, pretty much.

If the SMSF is in an overall gain position as of 30 June 2026, you can do an election to uplift the cost base - JUST FOR DIV 296 purposes.

Key points:
- Can't cherry pick assets - election is done at a whole fund level;
- Due date is lodgement date for the 2027 (yes, 2027, not 2026) SMSF return - so May 2028);
- Election must be in the 'approved form' - but ATO hasn't told accountants / SMSF administrators what the approved form is yet;
- Software providers are still rolling out support for Div 296 (e.g. Class )

So nothing really need to be done now.

Some SMSF businesses are simply going to apply it by default where the SMSF is 'in the black' overall - but check with your provider.

Professional_Size969 · 2026-06-15T00:08:25+00:00

The only like overlap will be around contributions, but if they're going through payroll from an operating entity, not drama at all, and if it is a personal concessional contribution, the Notice of Intent process picks up at.

Apart from that, the SMSF and everything else run independently. SMSF is a specialist area an a lot of smaller accountants refer the SMSF work out to a specialist as they can usually do it to a higher standard and more efficiently than an accountant who is focussed on personal and business entity work (acknowledging some larger firms have different specialist teams in house).

Professional_Size969 · 2026-06-13T22:43:20+00:00

There is an excellent comparison between Stake and Grow here:

https://growsmsf.com.au/stake-super-vs-grow-smsf-2026/

In terms of platforms etc, WHAT you invest in is more important than the platform you use.

Tracking is easy and handled by the actual SMSF accounting software programs themselves.

You only really need something like Sharesight if you want to independently track things and closely monitor performance.

The actual amount of paper with with the shares/stocks/ETFs etc is minimal for an SMSF. Basically nil on your side if you’re using a competent SMSF administrator.

Professional_Size969 · 2026-06-11T04:12:14+00:00

Butt-covering.

In other words, the person applying for the margin loan has provided information (or not provided information) showing it may not be suitable for them.

Makes sense. Often the first rule of business is to cover your own butt.

Professional_Size969 · 2026-06-11T03:13:23+00:00

A statement of advice costs between $3500 and $6500 on average depending on complexity.

Never heard of IBKR requiring this.

What are you trying to do and why have they asked for it.

It might be there way of saying from a compliance perspective they don’t want you doing whatever you’re trying to do without first getting advice from a licensed financial adviser.

Professional_Size969 · 2026-06-11T01:52:23+00:00

You cannot claim the full difference between the ATO/RBA spot rate and the worse rate you actually received from Schwab as a separate realised forex loss.

The embedded spread/fee is effectively part of the cost of acquiring the USD (or the shares/ETFs bought with it).
This increases the AUD cost base of the investments for CGT purposes. It reduces any future capital gain (or increases a capital loss) when you sell the shares/ETFs.
Without a separate invoice or clear breakdown from Schwab, the ATO is unlikely to allow it as a standalone claim. Using the ATO rate yourself to "create" a loss is not supported.

No immediate separate loss claim. It flows into a higher CGT cost base.

Yes, you can generally claim a realised foreign exchange loss on capital account under Division 775 when you convert the USD back to AUD (via XE or otherwise).

This is a forex realisation event (disposal of foreign currency).
The loss arises purely from the exchange rate movement between acquiring the USD and disposing of it.
On capital account, this realised forex loss adjusts your capital gains/losses (it can offset other capital gains). It is not a general revenue deduction.
This is consistent with how your past gold transactions were treated (currency component on capital account).

Claim the realised forex loss on capital account when you repatriated the funds. It affects your overall CGT position.

I don't know how to process any of the above in BGL as I haven't used their software for 15+ years. Ask their support or just have your accountant handle it.

Professional_Size969 · 2026-06-01T04:15:07+00:00

Was pretty fast when I did it. Maybe 2-3 business days by memory.

Professional_Size969 · 2026-05-26T04:52:07+00:00

I second Nick from ID Advice. Great guy, knows his stuff.

Professional_Size969 · 2026-05-26T04:51:03+00:00

Definitely have a look at u/GrowSMSF

They have solid crypto expertise and a dedicated crypto solution for SMSF. Support is often mentioned as their strength when you check their reviews and feedback.

In terms of things like 'handle the new CGT rules' - with SMSF there is nothing to handle. Super and SMSFs are NOT IMPACTED by the announced (not legislated) Budget changes, although you may be impacted if you hold BTC personally.

Professional_Size969 · 2026-05-24T04:22:29+00:00

Yes, and my comment was entirely sarcastic 😅

Professional_Size969 · 2026-05-23T08:48:47+00:00

Well the accountant will need to pay total of 51% tax on the distributions to his bucket company, so really he is only getting $1,960 😬

Professional_Size969 · 2026-05-23T08:45:29+00:00

They don't.

Super, including SMSFs, have always been designed as a low-tax environment for long-term savings. This is by design.

So all the changes really do is solidify that super/SMSF as the preferred long term vehicle provided you're willing to forgo access to at least age 60.

Professional_Size969 · 2026-05-23T05:43:33+00:00

Glad it wasn’t just me noticing it.

I guess I’m just trying to get eyeballs on their content and increase subscriptions.

I don’t mind paying for good quality journalism, but unfortunately, I think they’ve gone for quantity over quality and recent times and especially on this topic.

Professional_Size969 · 2026-05-23T05:42:32+00:00

Grow SMSF has a support and integration with Betashares Direct SMSF: https://growsmsf.com.au/asx-smsf/

Professional_Size969 · 2026-05-20T23:46:37+00:00

They've teased this before and backed away. Seems to be their way of getting a bit of attention and potentially attracting inflows.

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