Self managed super funds

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

christopher95000
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@christopher95000
Join Date: 2014
Post Count: 7
July 26, 2014 - 11:45 pm
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
Redwood
Participant
@redwood
Join Date: 2013
Post Count: 340
July 27, 2014 - 8:55 pm
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
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SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
July 27, 2014 - 11:09 pm
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
Ollie
Participant
@ollie77
Join Date: 2014
Post Count: 30
July 30, 2014 - 8:53 pm
Just to tag onto this post, can you turn an existing IP into a SMSF?
thanks Ollie
Ollie
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Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
July 30, 2014 - 9:31 pm
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
Redwood
Participant
@redwood
Join Date: 2013
Post Count: 340
July 30, 2014 - 10:04 pm
Ollie wrote:
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
Ollie
Participant
@ollie77
Join Date: 2014
Post Count: 30
July 31, 2014 - 4:20 pm
OK thanks guys. Thought as much.
Ollie
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