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Can I transfer property into my SMSF?

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Can I transfer a residential property owned by a member into our DIY super fund, in which the member is a trustee?

No. It means you can’t have it bought by the fund or have it transferred into the fund as a non-concessional contribution. Business properties can be bought or transferred as a specie contribution based on a registered valuer’s assessment.

You can use up both your concessional and non-concessional caps to make such a transfer.

Note, there could be a personal tax liability if the transfer of this asset to your fund results in a capital gain. How? Well, the price the super fund pays you for your business property could be more than what was paid for originally.

Of course, there are adjustments for inflation and capital improvements but I suggest you get advice for such a bold super play.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Wednesday, September 14, 2011

The Switzer Super Report is a newsletter and website for self managed super funds. With exclusive commentary from Peter Switzer, Roger Montgomery, Paul Rickard and Charlie Aitken the Switzer Super Report will help you maximise your after tax investment returns and grow your DIY Super. Click here for a free trial or subscribe today.

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