Winding up an SMSF – does the fund need to have no assets?
Death benefits & Estate planning
During our winding up an SMSF workshop we were made aware of occasions where a fund auditor would not sign off on the annual financial statements as part of a wind up unless the fund had no assets on 30 June. We disagree with this requirement and note that the ATO, as regulator of SMSFs, does not require the SMSF to have no assets to be able to lodge its final return. Let’s explore this further…...
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