I have read the whole thread looking for an answer to this question (it was asked but no reply)
If myself and partner start a SMSF today (both 46)
use our $200,000 of current super as a deposit on an invest property for the fund, house valued at $600,000.
Over the next 15 years we pay the max amount of voluntary contributions plus the rental income clears the loan amount.
We both retire, the fund sells the house now valued at $1.5M do we pay 15% CGT on that?
thanks in advance.
Based on the rules, it would seem (simplistically) that you'll have to pay 15% on the capital gains. Now, assuming sell price of 1.5m and cost of 600k, that's 900k. Discount by 50%, so gain of 450k. If it's distributed to two people and the first 100k is tax free for each person, you pay 15% on 250k.
Capital gains is based on selling price less cost. The loan balance is irrelevant.