KEY POINTS:
The Australian Tax Office (ATO) has warned people to think twice about using their assets to take advantage of changes to superannuation from July 1.
From next month, people 60 years old or more can generate income from super or make tax-free lump-sum withdrawals.
The changes have seen a rush of people raising funds from real estate and other investments to pay into superannuation.
But tax chief Michael D'Ascenzo says people selling assets need to set aside enough funds so they are not caught out by the cost of stamp duties, legal fees, capital gains tax and even GST on the sale and transfer of assets.
- RADIO AUSTRALIA
