SMSF - Taking Control of your Superannuation

Self Managed Super Funds are simply as it states… your superannuation that you manage and have control of.

No longer does your work have to simply contribute its 9% into an account that you have no idea of where it is invested or by whom.

The exciting part about SMSF’s now is that under new legislation a SMSF can borrow to invest.

 So to put this into English, you can get a loan and buy an investment property in your superannuation.

Now, no doubt you have lost money in your super over the last 18 months, so it’s important to evaluate whether this option is good for you now, as like everything there are costs involved with the establishment of the funds etc.  

The starting point is meeting with a Financial Planner to see if a SMSF is a viable option for you, secondly, setting up the appropriate accounts with your accountant. Finally you can then begin buying property within your SMSF.

Over the coming months we will go into more about these funds and how they work and the benefits of having one.

Check out our SMSF section on our website to read more about the Pros and Cons of SMSF.

Want to know more, contact us today to discuss your options.

More news from wHere its @ July edition