sole purpose test

Property and Self Managed Superannuation Funds

BEWARE OF THE SOLE PURPOSE TEST Your fund must be maintained for the sole purpose of providing retirement benefits to members, (or to their dependants if a member dies before retirement). If you contravene the sole purpose test, the fund may lose its concessional tax treatment, and the trustees could face civil and criminal penalties. So you will need to make sure your property investment satisfies this purpose.

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