All Topics / Help Needed! / tax free income from properties in retirement

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  • Profile photo of crightocrighto
    Participant
    @crighto
    Join Date: 2012
    Post Count: 11
    April 22, 2012 - 9:51 pm

    hi guys
    i just have a question on behalf of my parents who have worked very hard all their lives and paid more than their fair share of tax, they are almost 70 and would like to retire. they have 5 debt free rentals that attract $1000/wk before running costs. their properties have not been set up in a SMSF and they have no super. is there any way this income can be transfered so it is tax free. any ideas would much appreciated.

    crighto 

    Profile photo of IP FreelyIP Freely
    Member
    @ip-freely
    Join Date: 2008
    Post Count: 353
    April 22, 2012 - 10:33 pm

    If they are resi properties they can’t be transferred to super which would be one of the few outsidetax free environment for investing.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 24, 2012 - 5:40 am

    Perhaps do the calculations on selling one or more paying the tax and then contributing into super – would probably be costly though.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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