Common expenses within your self-managed super fund
The ATO recently updated their Taxation Ruling TR 93/17 which covers income tax deductions that are available to superannuation funds. It is important that you are aware of the different types of expense and their deductibility within your self-managed super fund.
As a general rule, you can claim expenses within your fund in the year they are incurred. It is important you are aware of when and how you can claim certain expenses. This Insight Paper below details the most common fund expenses including operating expenses, investment-related expenses, tax-related expenses, statutory fees and levies, legal expenses and insurance premiums.
We highly recommend that you gain the advice of an SMSF Specialist in order to maximise the expenses from which you can claim deductions within your fund. To find your nearest SMSF Specialist, use our Find a Specialist function.