Yes, you can use your SMSF to invest in both residential and commercial properties. Strict rules set by the ATO exist in investing in property through an SMSF in Perth. For example, the property must meet the “sole purpose test,” meaning it must solely provide retirement benefits to the fund members. Additionally, you cannot live on the property, nor can any related parties.
Cryptocurrency can be a valid investment choice for your SMSF, but it comes with higher risks due to its volatility. Ensure that your investment strategy aligns with your risk tolerance and retirement goals. Furthermore, strict compliance with ATO regulations is required, including proper documentation and reporting of all crypto transactions. Working with a qualified SMSF accountant can help you navigate the complexities of these investments.
SMSFs benefit from concessional tax rates, with income earned by the fund taxed at a maximum of 15%. If your SMSF holds assets for over 12 months and sells them during accumulation, capital gains tax is reduced to 10%. Additionally, if the assets are sold during the pension phase, no capital gains tax may apply, making it a highly tax-efficient investment vehicle.
Every SMSF is required by law to undergo an annual audit by an independent, third-party auditor. The audit assesses both the financial records of your SMSF and its compliance with the superannuation laws set by the ATO.
At New Venture Wealth, we work with external SMSF auditors to ensure that your fund is fully compliant with all regulations, so you can rest easy knowing your fund is in good standing.
1300 050 939
info@newventurewealth.com.au
SMSF specialists – Making SMSF set up, accounting an auditing easy
