May Partners, Certified Practising Accountants, Rural Victoria & NSW

The May Partners Files of Success - Our Clients

We want to tell you about some of our client's success stories. These clients have listened and acted upon our advice and in doing so have allowed us to assist them in improving their financial position, their lifestyle and achieve their goals.

As we respect our client's privacy, at the request of the individual some of the names have may have been changed. Please note that these results are specific to the client and their specific situation. Every individual and business is different, so results and outcomes will vary.

When we helped Alison Jamison, one of our valued clients, purchase her business premises, she saved herself thousands of dollars purchasing the building,.  Alison was so happy with the result that she gave us the opportunity of doing a case study on her experience to help show others the benefits of using a Self Managed Superannuation Fund (SMSF).

Alison previously rented her business premises from someone else.  The opportunity came up for Alison to buy the premises and she initially jumped at the chance. However, after initially trying to obtain finance herself, she was taken aback at the cost of the annual repayments compared to the rent she had been paying.  The amount was just over $10,000 p.a. more than the rent she had been already paying.  Alison then contacted us to see if we could help in some way.

After reviewing Alison’s situation we came up with various options, one of which was utilising Alison’s superannuation.  Like many people she hadn’t realised that people can set-up their own self managed superannuation.  Further she also didn’t realise the extensive range of investments an SMSF can own, including commercial property. We then helped Alison set-up a SMSF and assisted her to roll-over her existing superannuation from her retail fund.

The SMSF then purchased the building and Alison’s business rented it from her SMSF at market rates, which were the same as her previous rental. This enabled her to achieve what she wanted without taking on any debt. It also meant that there was no negative impact on her business cashflow, saving her $10,000 p.a. and now she could benefit from the growth in the value of the building (in the low taxed environment of super) as she had wanted to invest in it by upgrading it anyway. The fact that she now owned the building, via her SMSF, meant that she gained the benefit rather than the owner.

Since the initial set-up, Alison has regularly paid rent to the SMSF as well as maintaining her previous regular contributions. She has now built up some cash and is about to buy some shares and plans on continuing this going forward with the regular rent & contributions being made.

What's holding you back from your success? Give us a call on 03 5452 1155 and see how we can improve your situation and lifestyle.

Testimonials

We love feedback. When we do a great job for you or put on a seminar that you thought was beneficial, we want to hear about it!! Here are some testimonials from our clients who use our services and/or have attended our seminars and found them to be beneficial.