This is one of the most appealing benefits of the SMSF home loan or SMSF commercial property loan. You can use the income that the rental property generates to pay off the loan.
Reduction in tax liability:
As you can claim tax benefit on the interest paid on the SMSF home loan, it decreases your tax liability. However, to claim the tax deductions, you need to ensure that it is done as per the prevalent tax rules & regulations. Our skilled and experienced team of brokers can guide you on how to apply tax deductions.
Reduction in capital gain tax:
As the taxation generally applies only during the accumulation stage, the capital gains will most likely be exempt from any taxes.
Appreciation of property’s value:
Another benefit for you in taking an SMSF loan for a property is the appreciation of the asset’s value.
The self-control of funds:
You always have direct control over your SMSF and how it is utilised. This helps you keep a close eye on the funds and plan their growth accordingly.
Increase in retirement savings:
The increase in retirement savings is also a big draw for most borrowers as it adds to the size of your funds considerably.
Your SMSF is always secure and, in case of a future default in payment, the lender cannot claim your self-managed super fund.
SMSF Members and Trustee Eligibility
You can have between one to four SMSF members who should ideally be from the same family. However, there can be some exceptions to this rule. Check with our qualified broker to know this in detail and understand your eligibility. Another criterion is that the members of the SMSF who are related should not be working under each other.
The self-managed super fund trust is similar to any other trust and is administered by trustees or administrators. You can either be the sole trustee or all SMSF members can be the trustees. Or, you could make all the members directors in a company that manages the SMSF trust. However, the trustees or the company directors cannot be financially compensated for managing the SMSF.
Why Choose Local Finance Guru for SMSF Loans for Property in Sydney?
Most people find it difficult to manage SMSF. They find it even more challenging to obtain an SMSF home loan and to meet the rigorous conditions of the lenders. Further, there are only a few SMSF lenders available in the market and you may find it difficult to negotiate the best deals if you are not familiar with all aspects of SMSF.
Local Finance Guru has a team of SMSF specialists that are experts in every aspect of SMSF and SMSF commercial property loans. They can answer all your queries regarding SMSF loans. Call us today on 0430 411 466 or mail us at email@example.com to discuss your SMSF home loan options in Sydney.