Did you know that your contributions to your superannuation fund are taxed at a substantially lower rate than your income? This means that, simply by placing your money into your superannuation fund instead of a savings account, you have already made a stronger investment in your future. Plus, when it comes time for you to draw from your superannuation fund, there will be additional tax breaks available to you.
When planning for your retirement, it’s important to consider the benefits behind your superannuation. Much like a savings account, your superannuation fund will not bring you a comfortable retirement on its own. However, the tax advantages offered by this fund makes it an important resource to consider when working towards long-term wealth.
One of the advantages of self-managed super funds (SMSFs) is the ability to acquire a business real property (BRP), such as a commercial property, a shop or even a farm through your SMSF. The property can then be leased back to a member to use in a business. Here is a handy guide that gives you the information you need to know about transferring the ownership of a business premises to your SMSF.