I have long advocated that property be kept outside superannuation, because I think it’s less complex to have it that way and also more tax effective to be borrowing in the name of the highest income earner.
However, I’m well aware that many people are buying properties through their self managed fund, and getting it wrong can result in massive penalties. Just this week I’ve been trying to help a person who was talked into an SMSF by a property spruiker, and now finds himself in serious trouble with the tax office.
With these thoughts in mind, I’m pleased to recommend a new book on the topic by my good friend Monica Rule.
‘SMSFs and Properties’ is a plain English guide to the superannuation law and how it applies to the acquisition of properties by SMSFs. This comprehensive guide covers what kinds of properties can be bought and from whom; the strategies which trustees can lawfully use to acquire properties; and the CGT concessions on property available to small businesses. ‘SMSFs and Properties’ is full of examples and contains a comprehensive bibliography and index for those wishing to do further research.
If you go to the following link, you can see a full analysis of the chapters and contents and also buy it if you wish.
It’s a steal at $24.95 and I’m sure will repay the purchase price many times over.