property out of super?

[SnappyTom]

I operate my business from a property which is in my smsf via a trust set up .I was recently advised to take it out of the smsf as Iam over 60 so that I can more readily use the property to purchase more investment property.Generally is this a reasonble strategy

 

[coastymike]

Financial advice. Anyone answering such an open ended question would be breaching a number of ASIC regulations. See your financial advisor.

 

[MattR]

Well the advantage of an SMSF is that you can determine when a CGT event happens. In this instance as you are over 60 and IF you have started an income stream any sale/transfer of the property will be potentially CGT free (depending on how much of your balance is applied to the income stream and other members etc.)

If you haven't started an income stream then talk to your adviser about the tax advantages of doing so, before you create the CGT event. This is a vital step.

As to whether or not this is a good strategy for you I don't have the foggiest.