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    Superannuation interests

    Payment splits

    Capital gains tax (CGT) rollover may apply if an interest in a small superannuation fund is subject to a payment split on the breakdown of a relationship between spouses, and a CGT asset of a small superannuation fund is transferred to another complying superannuation fund.

    A small superannuation fund is one that is a complying fund and has fewer than five members.

    The consequences of rollover are the same as for transfers between spouses.

    Transfer of own interest in a small superannuation fund

    A trustee of a small superannuation fund may also qualify for CGT rollover when the trustee transfers an asset or assets reflecting the entire personal interest of one of the spouses or former spouses to the trustee of another complying superannuation fund for the benefit of that spouse. For the rollover to apply, both spouses must hold an interest in the small superannuation fund before the transfer. This allows spouses in a small super fund to separate their super arrangements on the breakdown of their marriage or relationship without any CGT liability.

      Last modified: 21 Jun 2016QC 17205