NewsBite

Opinion

Meg Heffron

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 HeffronContributor

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Many 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.

Loading...
Meg Heffron is managing director at SMSF specialist firm Heffron.

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Superannuation & SMSFs

Fetching latest articles

Most Viewed In Wealth

    Original URL: https://www.afr.com/wealth/superannuation/beware-diy-repairs-and-renovations-are-a-minefield-for-smsfs-20240827-p5k5tc