All Topics / The Treasure Chest / SMSF FUND FOR PROPERTY PURCHASE

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  • Profile photo of LittleMermaidLittleMermaid
    Member
    @littlemermaid
    Join Date: 2003
    Post Count: 9
    June 29, 2003 - 5:29 am

    We are about to purchase a property which will be a buy and hold and will be using our superannuation funds from our SMSF to purchase the property. Could anyone tell me please if the rent that we will receive when the property is tenanted, must go into our super fund or not. I have purchased the Do it Yourself Super fund book that was recommended recently on the forum but could not get my question answered. (Great book nevertheless!)[;)]

    Profile photo of walkernickwalkernick
    Participant
    @walkernick
    Join Date: 2002
    Post Count: 68
    June 29, 2003 - 5:42 am

    Hi Little Mermaid,

    The rent you receive most definitely must go into your super fund if it is owned by the fund. Since you can’t borrow to invest via an SMSF the tax (15%) you will pay will be income minus management and maintenance expenses.

    -Nick

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