SMSF Lifetime CGT Cap

Lifetime CGT cap allows an SMSF member to:

• contribute qualifying proceeds from the sale of assets used in the course of carrying on a small business, and
• elect for them to count towards a separate lifetime CGT cap, rather than non concessional/concessional caps

The CGT cap amount is indexed in line with average weekly ordinary time earnings (AWOTE), in increments of $5,000 (rounded down) and the new indexed amount is generally available each February.

The contribution must also comply with any work test rules that apply to individuals aged over 67 from 1 July 2020 to 30 June 2022 and can not be accepted after age 75.