Borrowing to Invest in Super...

[cdremy]

Hello,

I was just curious whether it is possible to borrow money from a bank (say $50000), invest it in your super fund, then claim a tax deduction for the interest paid to the bank. Is this legal? I've tried googling and the ATO website, but I can't seem to find the answer.

Cheers

 

[Propertunity]

Hello,
I was just curious whether it is possible to borrow money from a bank (say $50000), invest it in your super fund, then claim a tax deduction for the interest paid to the bank. Is this legal? I've tried googling and the ATO website, but I can't seem to find the answer.
Cheers

Instead of that use this forums excellent search capabilities.

Seach for 'borrow super' and you'll find 192 threads on the subject. Happy reading. You can borrow but there are strict rules and ways to do it.