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Double tax win

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cashcow | 30 Jun 2018, 10:03 AM Agree 0

We purchased a property in the smsf - I had 150k sitting in cash doing nothing. So i purchased a property with the SMSF plus i used my cash of 150k - I have loaned the 150 to the smsf. Now my wife and i both work and the rental doesnt cover the repayment to pay me back in 3 years (i want my money paid back as quick as i can)....

CAN I - make concessional contributions to my super for my wife and i to the maxium value - (which makes that componenet of our income tax free), and then then make decent repayments back to myself to pay off the loan. I see that as a double win, the 40-50k that were aloud to put in becomes tax free - and i get the money straight back into my account with the high repayments ive setup..

also - isn't there something where we can put 3 years worth of concessional contributions in at once ? which would be great because that would net me another 45k in a year - which in turn i could purchase another property - making the theory money makes money?

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