Welcome to another edition of our client for life newsletter.
With the launch of our new Financial Planning division, we have showcased some articles pertaining to investing in property in your self-managed superannuation fund.
In 1997 I purchased an apartment on the water in Noosa in my self-managed superannuation fund. I purchased it for $225,000 and 11 years later I sold it for $568,000.
The wonderful upside of this gain, was that after the Capital Gains Tax relief experienced in a superannuation fund and add backs, my overall capital gains tax bill was approximately $13,000. The proceeds of the sale enabled me to buy two properties in my self-managed superannuation fund. I now own an apartment in Sandringham and another in Camberwell.
If you have $200,000 or more in superannuation and you are interested in learning more about a self-managed superannuation fund and investing in property in your self-managed superannuation fund, contact Nick Stratus at Solid on 1300 2 SOLID.