I have been reading about and considering starting a SMSF to buy more property. The bulk of my Super 100K is currently in Super SA which I can't access while a government employee. I have another Super Account with a small amount in from a stint in the private sector. I quit my govt job on 18th of June and restart in another govt job on the 19th July. Technically this window period of just over a month would allow me to roll my funds from SA super to the other fund from which I could then reaccess at a later date to set up my SMSF. What has stopped my plans in their tracks is that I have just discovered that I will pay 15% tax to move my super. I have 2 properties negatively geared at the moment that get me a decent tax return on my overall income from property and my gov job but don't think I would be able to claim enough to reabsorb the additional 15K Tax. Is this tax payable everytime you move super? I am in a quandry because if I don't decide now that money will probably be locked in Super SA for another 5-10 years. If I am not making sense please feel free to let me know. Any advice appreciated.
cheers
JASA
cheers
JASA
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