Can our property be transferred to super fund?
Q.
My wife and I have had an investment property for five years
which is currently rented out. I read that if property is held
within a super fund then the CGT payable is discounted 1/3 instead
of 50% under discounted CGT rules. Can our property be transferred
to super fund?
A.
Yes, capital gains tax is less within a super fund, but you will
be liable for capital gains tax and stamp duty if you try to
transfer the property to the fund. Furthermore, the asset may not
be eligible to be transferred. I suggest you talk to your adviser
before doing anything.
Each week financial advisor Noel Whittaker answers your
questions.
