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Transferring investment property into an SMSF without incurring stamp duty.

Can an individual owner of an investment property transfer their investment property into their self-managed super fund without incurring additional stamp duty?

It is often the case that individuals will purchase property in their own names as investment properties, without obtaining legal advice from their lawyer or financial advice from their financial planner regarding the purpose of their purchase until much later in life.

Individuals often think to invest in property to fund their retirement. There may be certain tax benefits and incentives in holding your investment property in a self-managed superannuation fund rather than in your individual capacity.

If you are seeking legal and financial advice about transferring your property from your individual name to a self-managed superannuation fund, but do not want to pay stamp duty on the transfer, there may be good news for you.

Under Section 62A of the Duties Act 1997 (NSW), an individual may transfer their property into a self-managed superannuation fund or to a custodian, solely for the purpose of providing a retirement benefit to the individual transferring the property, while incurring a nominal duty of $500.00. This is subject to the individual complying with the Superannuation Industry (Supervision) Act 1993 (Cth) and the evidentiary requirements required by the State Revenue Office.

If you require legal advice on setting up a self-managed superannuation fund or whether it may be advantageous to hold your property in a self-managed superannuation fund, please speak to one of our property lawyers with extensive experience in this area of law.

Important Disclaimer: The content of this article is general in nature and for reference purposes only. It does not constitute legal or financial advice and should not be relied upon as such. Legal advice about your specific circumstances should always be obtained before taking any action based on this publication.



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