Buying property from your SMSF

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Ems, 22nd Apr, 2019.

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  1. Ems

    Ems Well-Known Member

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    Looking to wind up our SMSF but would like to keep hold of the property if possible. What's the ins and outs of buying a property from your SMSF in own name? In regards to purchase/sale price how is that determined?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Market value. evidence should be kept.
     
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  3. JohnPropChat

    JohnPropChat Well-Known Member

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    What is the rationale behind wanting to wind up the SMSF?
     
  4. Ems

    Ems Well-Known Member

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    It's costing too much in fees pa to make it worthwhile. We shouldn't have started the SMSF to begin with...
     
  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Fees can be lowered by using a lower cost SMSF admin. The CGT (for SMSF) and closing costs + stamp duty for yourself can be many times the SMSF fees. All comes down to what you are planning to do in the long term.

    Get tax and structuring advice. @Terry_w is wealth of knowledge