Self-managed superannuation fund members will not be able to transfer shares off market without the use of a broker under new regulations designed to limit the ability to minimise capital gains tax. The ban will apply from 1 July 2012.
SMSF Professionals’ Association chief executive Andrea Slattery said the decision was disappointing.
The regulation will be introduced at the recommendation of Jeremy Cooper. The Australian Professional Ethical Standards Board will develop guidelines that do-it-yourself super funds will need to abide by before registering with the Australian Securities and Investments Commission.