Buying property through your superannuation fund
Monday 25th October 2010

Self-managed superannuation funds (SMSFs) have become a popular choice for individuals wanting to take control of their retirement savings.

At the same time, Australians have continued their love affair with property. It has great appeal for investors with a view to bringing self-funded, early retirement close, by either making use of the negative gearing legislation of simply by making a profit through rental income.

It is important to note that in order for a SMSF to obtain finance for the purchase of property, consultation with experts PRIOR to any actual purchase will determine whether or not this option is viable in your situation.

By the Trustee(s) obtaining the proper licensed financial and taxation advice in regards to the Geared Transaction will ensure that there is no breaches to any rules or requirements and any stamp duty implications are kept to a minimum.

So remember, get your advice before signing any contract. Your conveyancer at LJ Hooker Settlements can then help you with the Settlement procedure and complete the transaction for you.

For further information click here

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