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  • Profile photo of Y-StressY-Stress
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    @y-stress
    Join Date: 2013
    Post Count: 7
    March 12, 2013 - 9:39 pm

    You need to see the land values for each property to decide if it is worth setting up 2 SMSF's. The other benefits in setting up 2 SMSFs are estate planning opportunities which can save your family a considerable amount in the future.

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
    Member
    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:40 pm

    We are trying to make it cheaper to run your own SMSF so that the cost of having a SMSF is more affordable

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
    Member
    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:35 pm

    Hi Richard

    Yes, the ATO is looking into these arrangements but the main issue is that the property in the Unit Trust is not allowed to have a charge over the property, this is why the loan must be structured properly to avoid these issues.

    There are ways to structure this so that the client can benefit.

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
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    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:51 am

    You can always make higher contributions into your SMSF to fund any improvement and the benefit in this is that it can reduce your personal tax bill.

    You may also consider buying the property in a Unit Trust where your SMSF owns units in the Unit Trust so that you have flexibility in how you purchase the property and how you can add-value to the property.

    Y-Stress?

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
    Member
    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:39 am

    It is becoming easier to manage your own SMSF and if your bank is being difficult in lending money to your SMSF then you can always use your personal savings to lend money to your SMSF and acquire property in your SMSF. You have abundant flexibility in maximising your personal benefits.

    Y-Stress?

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
    Member
    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:30 am

    You may want to have 2 SMSF's so that each SMSF owns a separate property, this may be useful if you want to reduce the land tax liability on owning each property

    http://www.ystress.com.au

    Profile photo of Y-StressY-Stress
    Member
    @y-stress
    Join Date: 2013
    Post Count: 7
    March 11, 2013 - 10:21 am

    If your SMSF is in Pension phase then your SMSF should not have any tax to pay on the sale

    http://www.ystress.com.au

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