we have bought a IP 2 years ago at 330k, probably worth hight 300k by now. We are thinking of change the ownership from ourselves to our super fund. here are two questions:
1. how do we do the transfer of the title? by a sales contract, or just go to the deeds office to pay for the stamp duty and change the ownership?
2. can we sale it at 330k, or it has to be a market value?Thanks very very much for all your input!
Hi there
I think you need to get some professional advice because it is my understanding only commercial property can be transferred into your self managed super fund – residential property usually will infringe the in house assets rules.Also consider that once property is in your super fund – you can't use the equity to borrow and purchase more property – as borrowing is not permitted in a self managed super fund.
thanks
raddles is correct a residential property cannot be transferred into your SMSF.
Certainly you can purchase a resdiential property within the SMSF but not transfer the security in like you can a commercial property or share portfolio.
Richard Taylor | Australia's leading private lender
Yes agree with the boys!!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
