Did you know you can contribute shares to super instead of cash? Not all super funds offer this, but you can via an in-specie transfer of shares into super.
Potential Benefits
✅Tax effectiveness for your personal tax return (or it could also work out worse depending)
✅Tax effectiveness through super
Warnings
❌Contributions caps – you get a penalty tax if you contribute too much (possibly a big one) – probably better to speak to your accountant or financial adviser about this – refer concessional/non-concessional cap and age-based limits.
❌Capital gains tax – you owe the tax office.
❌You may have to change super funds to allow for it. And no, you don’t need a Self-Managed Super fund to do this.
❌❌Don’t lose your super insurance by rolling over without finding adequate replacement or keeping 2 super funds alive. Your financial adviser can help here as well.
❌Don’t take this as personal advice that you should do this, each situation is different.
✅If you have any further questions, feel free to send me a direct message.