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Investment Property Rules within a SMSF

 

There is no doubt that many new SMSF’s are being established for the purpose of borrowing to invest in property. Although purchasing property in a SMSF has many attributes and advantages, it is very important that Trustees of a SMSF fully understand the ATO’s distinction between what is considered an improvement versus repairs or maintenance, and at what point do improvements to the property make it a replacement of the original asset.

These distinguishing factors are important they be clearly understood by Trustees to ensure that it is in keeping with your Strategy and that your SMSF continues to be compliant.

The following article is well worth the read as it provides clarity where, in the past, the ATO has not been clear enough.

http://thesmsfcoach.com.au/2013/04/11/smsf-borrowing-what-can-i-do-with-an-investment-property-within-the-rules/

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The information provided on this website, including the material and contents provided in the website publications, are informative in nature only and you should not act specifically on the basis of this information alone. It should not be used as a substitute for legal, business, accounting, tax, financial planning or other professional advice. If expert assistance is required, professional advice should be obtained.

Paul Baggetta is the Founder & Principal of Baggetta & Co. Paul Baggetta has been a Taxation Accountant since 1981, a Financial Planner since 1998, and in 1993 qualified as a Real Estate Licensee, holding a Triennial Certificate (currently not trading) and operated his own Real Estate business for property investment clients for over 5 years as a second business.

Financial planning services are provided by Paul Baggetta as an Authorised Representative (No. 261469) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services License No. 223135.

 

Taxation & Accounting services are provided by Paul Baggetta as a Registered Tax Agent (No.61487008) and is a Member of SMSF Association, FIPA & NTAA.