Tax and superannuation implications of getting business property into a SMSF.
Owning business premises inside a Self Managed Super Fund (SMSF) can provide a tax effective outcome and also business continuity security. With certain Capital Gains Tax concessions available, moving premises that are already owned outside of super into a SMSF can be quite attractive.
But, there a number of rules and requirements that must be met before the business real property exemptions can be applied. It is important to also understand the key risks and opportunities from a Capital Gains Tax point of view both on the transfer of the property into the SMSF and on the eventual sale of the asset by the SMSF.
At A Grade Tax Penrith, we can take you through the fundamental issues around business real property and how to minimise the risks and maximise the outcomes under the Capital Gains Tax and superannuation systems.
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