Opinion
Beware – DIY repairs and renovations are a minefield for SMSFs
Doing work on a property owned by your SMSF is fraught with danger because of strict tax and superannuation laws.
Meg HeffronContributorMany clients ask what they can do – legally – to enhance the value of a property owned by their self-managed superannuation fund.
Well, there are two key risks to think about. The first is that SMSFs have to pay a market rate for things they buy or services they receive. If they don’t, they risk creating a situation where the fund pays extra tax on its income.
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