Many business owners involve their self managed superannuation funds (“SMSF”) in their business as owner of or part owner of their business premises.
There can be benefits in doing this but there are also costs associated particularly with –
- transferring the asset into the SMSF; and
- the complex ongoing compliance regime for SMSFs
In the past month I have come across good examples of both points.
A client had heard of the benefits of transferring his business premises into his SMSF and better still, that it could be done for only $50 stamp duty. As usual, the devil is in the detail.… Read More