Tax deductions for SMSF investment property

[JohnHenry]

I am new to SMSF. I've read somewhere that we can also claim depreciation for SMSF investment property so this could reduce the SMSF tax considerably. I just wonder if anyone can confirm if this is ture? How about the rental expenses? Can we get tax deductions for rental expenses as what we can for normal investment properties?

Thanks,

Patrick

Wow that does sounds good to use our Super fund to get IP and then negative gear it while avoiding tax

I'm interested to know more about this.

 

[MikeF]

Tax Deductions in a SMSF

Here's another list of deductible expenses for SMSF's.

http://www.thesmsfreview.com.au/i-tax-deductions.html

Interestingly the article states that if you have a corporate trustee, the cost of the annual ASIC fee is not deductible and they are saying in fact the SMSF should not actually pay for it. This is news to me.

 

[MikeF]

Wow that does sounds good to use our Super fund to get IP and then negative gear it while avoiding tax

I'm interested to know more about this.

Search this forum as there has been plenty written on Limited recourse Borrowings Within a SMSF.

Also the following tread by Bill (BV) is a practicle guide on how it is done.

http://www.somersoft.com/forums/showthread.php?t=54235

 

[MJD]

I also have a question with SMSF, I had an investmetn in SMSF and prepaid interest for 3 years, Can I claim the deduction for the full amount in one year . I know It can be claimed if investment under personal name but not sure with SMSF
thanks a lot for all feedback

 

[MikeF]

I also have a question with SMSF, I had an investmetn in SMSF and prepaid interest for 3 years, Can I claim the deduction for the full amount in one year . I know It can be claimed if investment under personal name but not sure with SMSF
thanks a lot for all feedback

My understanding is that a SMSF cannot claim interest prepayment. Only small business and individuals can claim an immediate deduction when they prepay up to 12 months of interest.