I have a retail/resi premise in which I have a 1/4 share with siblings. As I am now over 60 I wondered about setting up a SMSF and selling my share (tenants in common) to it. When I declare myself fully retired earnings would be tax free. My share would be about $400k. Would it be worth the initial and continuing expense to bother doing this? I could transfer money, say $100k which is in my current industry super fund into the fund as well. I would also be in a position to make a non concessional contribution of $180k to bolster the balance.
Thoughts?
Thoughts?