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Owning Property Through a Self Managed Super Fund

While this strategy is not appropriate for everyone, there are 4 very good reasons why it should be considered:

Risk Management - In the case of bankruptcy, legal disputes or statutory fines, assets held within super cannot be touched.
Capital Gain Tax - Once you reach retirement age an asset held within a superannuation fund will attract NO capital gains tax.
Super Contributions Limits - Any rent paid is in addition to the $25,000 limit.
Tax Planning - If the property is a business premises that your business rents. You can claim a tax deduction of 30% but only pay tax within super at 15%.

We have put together more than 80 "Limited Recourse Borrowing Arrangements". The key in this area is to ensure that you are dealing with the experts as it is a technical field. We work closely with the banks and our preferred solicitors who specialise in this area to ensure the process is conducted correctly and efficiently. To find out more please see this SMSF Borrowing Fact Sheet or contact us.

Asset Protection

What can business owners and company directors do to protect their personal assets in the event of business failure?

Many businesspeople are now asking their advisers how they can legitimately protect their assets. The question is not new but is becoming a primary consideration for both established businesspeople and those about to embark in business. There are now a number of Acts that make directors personally liable for debts and obligations which were previously the sole domain of the company. The corporate veil is no longer an iron curtain which will protect company office-bearers. Directors - new, old or prospective - need to be fully informed about their duties and obligations with regard to corporate governance. Failure to do so may expose them to personal liability, penalties and/or incarceration.

For more information please see this Asset Protection article written by Ian Rodrigues (Bishop Collins) and Paul Gidley (Shaw Gidley Insolvency and Reconstruction) for the National Accountant Magazine.