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In specie contributions

Section: 2.13

In specie contributions are those made using assets other than cash and occur where an asset is transferred but the superannuation fund pays no consideration or pays consideration less than the market value of the asset. Examples of in specie contributions include transferring ownership of shares or transferring the title of a real property into the name of the superannuation fund's trustee.

In specie contributions may be made at any time by a person who is not a related party of the fund provided that all other relevant SIS provisions are met and subject to the trust deed. A person who is a related party of the fund can make an in specie contribution provided that the asset contributed is one that the fund is permitted by SIS to acquire from a related party (eg listed securities, widely held trusts or business real property, acquired at market value).

The market value of the in specie contributed asset counts towards the relevant contributions cap. For more information on in specie contributions, refer to Taxation Ruling TR 2010/1.

Last modified: Thursday, August 24, 2017