A Guide to Purchasing Property via an SMSF


Posted April 3, 2021 by ricklopez11

Spending on property via an SMSF (self-managed super fund) has grown in demand in past years, especially since it became feasible for SMSFs to scrounge money to finance a direct property purchase.
 
Spending on property via an SMSF (self-managed super fund) has grown in demand in past years, especially since it became feasible for SMSFs to scrounge money to finance a direct property purchase.

This is a place where you do need to confirm you know what you’re getting into. Here is our guide to purchasing an investment property in South Australia via your SMSF.
Spending on commercial property

Normally speaking, spending on commercial buildings via an SMSF has some perks over residential lands. The rules relating to possessing a residential home in an SMSF very evidently specify that the property can’t be occupied or rented by you or any other trustee. It also can’t be occupied or rented by any relation to the trustees.

Investors who think they can buy a holiday home in their SMSF to enjoy over the summertime will need to rethink; the rules are strict and clear. Investors who already possess an existing residential property can’t transfer the property into an SMSF by getting it at market value or contributing it within the cap limits.
Spending on residential property

Property bought via an SMSF cannot be lived in by you, any other trustee, or anyone related to the trustees, regardless of how far-off the relationship.

It also cannot be rented by you, any other trustee, or anyone related to the trustees. So, purchasing a holiday house in your SMSF and living there throughout the summertime is not allowed.

Depending on your financial situation, a self managed super fund property investment service can give you more authority over your retirement and superannuation. So, get in touch with an investment property specialist who can offer you a full scale of SMSF services, management and maintain your SMSF. Contact the team today.

If you are interested for buying an investment property in Adelaide, visit this website https://www.propertyassetplanning.com.au
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Rick Lopez
Country Australia
Categories Business , Finance , Real Estate
Tags investment property in south australia , self managed super fund property investment
Last Updated April 3, 2021