Ready for an episode that's packed with insights and a dash of fun? Tune in to the latest instalment of the Commercial Property Investing Explained Series with your favourite hosts, Andrew Bean and Steve Palise. This week, we're joined by the brilliant Davie Mach, founder of Box Advisory Services, who’s here to shed light on the world of Self-Managed Super Funds (SMSFs) and business accounting.
Davie brings over a decade of experience in advising businesses on management accounting and taxation issues. As a member of the Chartered Accountants Australia and New Zealand and the Australian Tax Practitioners Board, Davie heads a passionate team dedicated to offering proactive and outstanding service to their clients.
What’s Covered:
🔹 SMSF Setup and Overview:
- What is an SMSF and how does it differ from other superannuation funds?
- Step-by-step guide on setting up your own SMSF.
- Common challenges faced when setting up an SMSF and a bare trust, and how to overcome them.
🔹 Costs and Timelines:
- The financial breakdown: What does it cost to set up an SMSF, and how does adding a bare trust affect this?
- From start to finish: Understanding the timeline for setting up an SMSF.
🔹 Post-Setup Processes:
- Setting up bank accounts and rolling over superannuation funds.
- A deep dive into Limited Recourse Borrowing Arrangements and how they work within an SMSF.
🔹 Case Studies:
- SMSF and Commercial Property:
- The fascinating story of an SMSF purchasing a childcare centre and the tax implications involved.
- How contributions from a construction business benefited the SMSF in terms of tax savings and retirement planning.
- The financial evolution of the childcare centre's rental income and property value over the years.
- SMSF and Tax Efficiency:
- A client's journey of transitioning their factory from personal ownership to an SMSF, including the initial challenges and outcomes.
- How transferring the factory altered the tax implications on rental income.
- Long-term tax benefits of holding commercial property in an SMSF, especially after retirement.
Join us for an episode filled with expert advice, real-world examples, and plenty of practical tips.
Steve Palise - Palise Property
Ph: 0403 878 497
Email: steve@paliseproperty.com
LinkedIn: https://au.linkedin.com/in/steve-palise
HOSTED BY: Andrew Bean
Ph: 0410 694 633
Email: ab@andrewbean.com.au
YouTube: https://www.youtube.com/@andrewbean28
Facebook: https://www.facebook.com/andrew.bean28
Get your FREE copy of Commercial Property Investing Explained Simply - Use discount code PODCAST CLICK HERE
Download your FREE Commercial Cash Flow Interest Rates Stress Test Calculator CLICK HERE
Don't forget to grab your FREE copy of Steve’s NEW Book Residential Property Explained Simply book in a bundle - Use discount code PODCAST CLICK HERE
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SHOW CREATED BY ANDREW BEAN - THE COMMERCIAL PROPERTY SHOW NETWORK
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