Have you wondered what you buy and manage yourself through the money in your Self Managed Super Fund?
Do you understand the rules and restrictions of buying an investment property in your SMSF?
These 2 short videos from Westpac will answer some of your questions.
What assets can I buy in my Self Managed Super Fund?
Have you wondered what you can buy and manage yourself through the money in your SMSF?
Michael McCormick from Westpac tells you about the diverse portfolio of assets that you may be able to invest in and what steps to take to set yourself up for success in your investment.
Can I borrow to buy property using my SMSF?
Can you use the cash in your super fund to buy an investment property?
What should you know of before you take this investment avenue?
Michael McCormick from Westpac guides you on what the investment means and how to set yourself up well for it.
The recently released Murray Financial Systems Enquiry made 44 recommendations to the government, but one of the more significant recommendations for property investors is that self-managed superannuation funds be banned from borrowing to buy assets such as property and shares.
Of course there is no suggestion the recommendation will be accepted, or how it may be implemented, but if you have been considering utilising this strategy, then I suggest you seek independent advice on your next moves.
The government is seeking feedback from the industry about the recommendations made and the closing date is 31 March 2015, and I can imagine there will be strong lobbying from interested parties with deep pockets, so no decisions will be made in the next 3 or 4 months and there is no guarantee any changes will be made at all.
SO WHAT SHOULD YOU DO?
Firstly educate yourself and then seek independent advice from appropriately qualified professionals – not sales people
To help educate yourself I’ve created a series of 6 blogs with videos provided by Westpac to get you up to speed about the tricks and traps of property investment in a SMSF
CONSIDERING BUYING A PROPERTY IN A SELF MANAGED SUPER FUND?
Of course you’ll need advice in this area from appropriately qualified professionals, but I recently wrote a series of blogs on using a SMSF to buy investment properties.
You can read these here:
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