I have been told ( by a smsf expert) that I CAN buy into an overseas business through my SMSF (yet to set up).. I’m hoping that someone out there may be able to let me know, in plain speak, how I can go about this..
This is one area where there is no substitute for getting expert advice.
"Buying into" a business may not be the same as operating a business.
You will also need to find out what documentation will be acceptable to the SMSF auditor you will need to appoint after establishing the SMSF.
This is one area where there is no substitute for getting expert advice.
"Buying into" a business may not be the same as operating a business.
You will also need to find out what documentation will be acceptable to the SMSF auditor you will need to appoint after establishing the SMSF.
the plan is to ‘work’ in the business, drawing an income and also depositing back into the fund.
I have been assured that this is possible.. as there are no reasons for it not to be a reality…I am looking at a figure of 6.5-8% of my current super balance..so I suppose, I’m after some guidance re first steps once I have established the smsf
You’ll need to make sure the business is allowed under the trust deed of the SMSF and operated for the sole purpose of providing retirement benefits for fund members.
We recommend you get professional advice before getting this set up.
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