Finance

Loophole lets you be your own landlord


Jarrod Sierocki

David Koch gives some tips on when it’s a good time to stop renting and consider buying your own home.

Commercial buildings can help build wealth for business owners.

BUSINESS owners can save thousands on workplace leases and unlock a raft of other benefits, by using superannuation to effectively become their own landlord, industry insiders say.

Omniwealth financial planner Andrew Zbik claims there is $78 billion worth of commercial and industrial property owned by self-managed superannuation funds, compared to just $28 billion of residential property.

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This is because SMSF trustees have realised that their business can pay a lease to a property owned by a SMSF fund they set up themselves, enabling them to use cash flow from their business to build personal wealth.

If this sounds like an option for your business, Mr Zbik says there are three things you need to get right.

1. Have a SMSF

“To choose your own commercial or industrial property you will…

Read the full article at: http://www.news.com.au/finance/superannuation/business-owners-can-use-smsfs-to-pay-themselves-a-lease/news-story/ed96eba56d762258a365955a15a57758

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