All Topics / Help Needed! / Self managed super funds

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of christopher95000christopher95000
    Participant
    @christopher95000
    Join Date: 2014
    Post Count: 7

    hey guys,

    Has anyone got any information on the value of a Self Managed Super Funds ( as opposed to a Family Trust ) , for the purpose of purchasing property?

    One of Steve’s books identifies a number of benefits of a Family Trust .

    Just wondering if anyone has experience with Self Managed Super Funds ?

    Christopher

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    Hi Christopher, there are a heap of us that deal with wither the set up of or administration of SMSFs or Finance on this forum. There is a wealth of info on the internet on SMSFs including benefits and risks. Put simple, SMSFs are flying and one of the growth sectors of finance, for good reason including lower tax rates, compulsory super and choice and flexibility. In answering your question, it depends on your strategy.

    Cheers, Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Chris

    Both entities have different qualities and different considerations.

    You can’t really compare like with like.

    I am a strong advocate of Self Managed Super and have ran my own since 1996.

    Be surprised how many forum clients over the last 10 years we have helped with their SMSF requirements.

    Certainly is flavour of month and in my opinion anyone who wants to take control of their own financial future should consider it.

    Cheers

    Yours in SMSF Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of OllieOllie
    Participant
    @ollie77
    Join Date: 2014
    Post Count: 30

    Just to tag onto this post, can you turn an existing IP into a SMSF?
    thanks Ollie

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Ollie

    No hate to say that’s a big No.

    Can’t transfer an existing residential property owned by you or a related party to the SMSF.

    Commercial property is a different story.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    Just to tag onto this post, can you turn an existing IP into a SMSF?
    thanks Ollie

    Hi there, unfortunately its a no – many a client asks this question and unfortunately I need to pass on the bad news.

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
    Email Me | Phone Me

    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of OllieOllie
    Participant
    @ollie77
    Join Date: 2014
    Post Count: 30

    OK thanks guys. Thought as much.

Viewing 7 posts - 1 through 7 (of 7 total)

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