Did you know that you can set up your own superannuation fund & borrow to buy property?
It is easy to set up your own fund & transfer funds from your existing superannuation fund into it.
This is called a Self Managed superannuation Fund (SMSF).
Your SMSF may pay a deposit on a property of your choice & arrange a loan with a bank or financier.
As superannuation funds are not permitted to borrow the property will be purchased in the name of a security trust which holds the property "in trust" for your SMSF.
Rent is collected by your SMSF & loan repayments are made to the financier in the normal way.
The lender has no recourse on the other assets of the SMSF hence the other assets remain protected.
We specialise in the above arrangements which are tax effective & offer another alternative to creating wealth for your retirement. Please don't hesitate to have a no obligation discussion with a specialist from our practice at your convenience.
Published: 8 May 2013
by Charles Gromek
by Charles Gromek
Free Business Tax & Structure Review
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