Making a property investment within your self-managed superannuation fund (SMSF) is currently in vogue and for those considering this option the multitude of experts available can be daunting. Meanwhile, as we await the Budget, it is hard to know whether this is the best way into long term property.
There is little doubt that the processes associated with this type of investment can be complex, so it is important to get SMSF advice from your accountant first. They will be in the best position to advise you on your options with the Australian Tax Office (ATO) paying closer attention to the tax implications of SMSF investments.
Some common mistakes include gearing in a related unit trust, putting the property in the name of an individual that is not the holder of the trust, and attempting to acquire contracts without an established trust.
Despite the complexities involved with this type of real estate investment, it has the potential to bring better returns for your retirement, so you should consider investing through your SMSF.
At the same time, depending on where you are in your stage of life, a conservative long term property investment strategy, properly geared for taxation purposes, can also work extremely well outside the SMSF umbrella.
This plan has worked for many residential and commercial property investors over a number of years. An example of the returns possible can be readily accessed by reading the Portfolio Management Services long term track record through theAtchison report available on this site.
If you would like to know more about long term growth property suitable for your SMSF, or simply a suitable property with excellent long term growth prospects, speak to one our property acquisition specialists today on 03 9621 1044 or go to Contact us.