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Perpetual has warned SMSF practitioners that the process of resetting the cost base of assets in client super funds could be complex and time-consuming, and should be addressed urgently.
Perpetual senior manager of strategic advice Colin Lewis said SMSF practitioners with clients affected by the $1.6 million transfer balance cap will need to consider whether their clients should take advantage of the CGT transitional rules listed in the super reforms.
Read the full story at SMSF Adviser.