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Every-time I take one of those risk profile assessments I get a different answer, imagine taking them at market tops or bottoms
Check the legality of buying one property with your $100k .
I wanted to do this with our super to buy a commercial property to run our business from, but was told that we were not allowed to "leverage into a single asset"
Is an SMSF allowed to borrow from you as a person? I thought that there were issues with that- that it wasn't allowed by law.Right now my SMSF has zero dollars. It will borrow from me, 100% of the purchase price of 245k to buy an office for me to use. My accountant has advised this. The smsf will then repay me over time in a properly drawn up loan arrangement. The property is bought in the name of a pty ltd which is trustee for a bare property trust. Once the property is paid off, it will be transferred into smsf. Rent into smsf will be used to pay strata and repay the loan. I will also make 25k concessional contributions into smsf each year.
I have 150k in first state super which I will transfer into smsf over time.
Is an SMSF allowed to borrow from you as a person? I thought that there were issues with that- that it wasn't allowed by law.
Is an SMSF allowed to borrow from you as a person? I thought that there were issues with that- that it wasn't allowed by law.
Who has told you this?
Is an SMSF allowed to borrow from you as a person? I thought that there were issues with that- that it wasn't allowed by law.
Our accountant.. We wanted to use all our super as a 30% deposit on a comm property. He checked with the ATO and was advised no, not allowed to leverage into a single asset. This was 2-3 years ago so things may have changed
Is an SMSF allowed to borrow from you as a person? I thought that there were issues with that- that it wasn't allowed by law.
That sounds to me like financial advice rather than a legal issue. Cynically, it may be that your advisor would like you to buy into managed funds where he gets a cut.
A SMSF can borrow from a member or related person. But not the other way around.
Has to be done properly otherwise it could be deemed to be a contribution and that could mean heavy taxes if over the caps etc.
I see in another thread that it is being lent interest free. Does that make a difference?
I am now 40 years of age, defacto relationship with my partner. Monthly company pays about $640 into my super. I am thinking of Ip for $400k
In this case I understand that cash is being used to lend to the SMSF, so that no interest charges are being incurred by the lender. Does that then mean that he is restricted to interest free, or can a market interest rate be charged?
Something else may come into consideration- how well is your current super performing?I?ve recently checked my super balance and it is approaching $100k by the end of this year. As I?m like many others, would rather control this money under my own hand instead of relying super company to manage, I am exploring SMSF with particular interest in p
IP. I?ve read through numbers of dicussion in this forum regarding this topic, just want to see what forum members? thought about the risk for my case.
I am now 40 years of age, defacto relationship with my partner. Monthly company pays about $640 into my super. I am thinking of Ip for $400k, something like a 2 bedroom unit in Victoria. Is anyone sekf manage your super for ip with super balance if $100k? Is it a do-able thing or should wait until I reach a larger savingbin super?
I've just received a statement from a fund which has given me 1.6% for the year, in a year where the stock market has gone well..
Shocking isn't it, looking at a couple of indexes the ASX looks like it went up by about 17% over the FY, US by about 40% and the rest of the world (ex US) by about 24%