There are considerable long term benefits when buying property in a self managed super fund, (check with an Advisor on your particular circumstances) and these will have a significant effect on your lifestyle in retirement.
Not only are there tax deductions along the way but huge tax breaks available when the Super Fund is converted into a Pension Fund. Consider no Capital Gains Tax and no Income Tax!! The main reason to buy property is for the CAPITAL GAIN. Imagine if you did not have to pay tax on it.
If you are considering buying property for occupation or investment and not using a super fund it is advisable to get the right buying structure in place.
So having sorted the best way to buy, the next step is WHAT AND WHERE TO BUY. Our recommendation, after determining a budget, (Tim Hunt of Boss Mortgages will advise on the latest deals available from lenders) research the market as to where good capital gain has been achieved over a number of years and then select a property in that area which is close to transport and amenities. This generally means inner suburbs. We warn against buying “off the plan” in most cases.
Again we suggest a look at the return on equity. Good outcomes are almost guaranteed.
Contact us for further details, free of charge, on 0418 500 483.