QuoteReplyTopic: Transfer business real property to SMSF Posted: 01/February/2007 at 11:18
Hi, I wonder if someone could point me in the right direction... My wife and I own the shares in a company which has as its sole asset commercial premises worth 400k. This has no debt. I run a business on this property and pay rent to the company. Can I move shares to the value of the super contribution limits into my super fund each year and claim this as a tax deduction? Is moving the shares considered the same thing as moving business real property into super. If this is not workable, what is the best way to move the property/shares into super? Thanking you in advance.
I have a farm total area of 52 ha on which I do not live and on the title is a registered profit a predre forestry joint venture. THe JV is approx 25ha of forestry with another 5ha of trees that are not a part of the JV, The JV is with a government department of primary industries. There is a livable shed on the block which is tenanted and under 2ha iin area,
Is it please possible to confirm that under section 66 of the Superannuation Industry (Supervision) Act 1993 I can transfer this property into my SMSF super fund?. The farm is not used for any other purpose.
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