Evening all,
If anyone here can help with my question(s) I'd be greatful.
I have a PPOR and 3 x IPs. Total debt is around 1.2 mil (value of properties is around 1.6 mil)
Is it possible to 'sell' or transfer these properties into my super? If so I imagine I would recieve the proceeds of the sales and the debt rolled into my super.
If my super (assuming this is all possible anyway) assumes all debt I would recieve the proceeds of the sale(s) to either a) invest elsewhere and/or b) in the short term cash up as the interest would be healthy.
Is this a pipe dream? I have more questions but I need to find out if its all possible. I have no problem locking away these properties until retirement thats what they are for anyway.
Cheers
Paul
Paul
Hate to say a pipe dream it is:
You are unable to transfer non business property into your superanuation fund and any lending within the fund needs to be non recourse.
The transfer of property into Super would trigger if possible (Commercial / Industrial is ok) both stamp duty and CGT.
Richard Taylor | Australia's leading private lender
thanks Richard,
Cheers
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