{"id":61877,"date":"2021-12-09T01:12:19","date_gmt":"2021-12-08T14:12:19","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/?p=61877"},"modified":"2021-12-08T11:30:08","modified_gmt":"2021-12-08T00:30:08","slug":"can-you-buy-property-with-your-self-managed-super-fund","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/real-estate\/can-you-buy-property-with-your-self-managed-super-fund\/","title":{"rendered":"Can you buy property with your self-managed super fund?"},"content":{"rendered":"

LEIGH DELEDIO \/\/ Director, UFinancial<\/p>\n

A self-managed super fund or SMSF is a type of superannuation trust created to provide financial benefits to its members in retirement.<\/p>\n

As a trust, all members of an SMSF are individual trustees or directors of the corporate trustee. Thus, the main difference between SMSFs and other super funds is that SMSF members are also the fund\u2019s trustees.<\/p>\n

The fund trustees are responsible for complying with the super and tax laws and regularly reviewing the fund\u2019s investment strategies.<\/p>\n

These strategies need to be managed in the best financial interests of fund beneficiaries and in accordance with the law.<\/p>\n

Besides allowing members to manage their own nest egg, self-managed super funds also have another perk: an SMSF trustee can borrow funds from a third-party lender to purchase a single asset with a limited recourse borrowing arrangement. This single asset could be a residential or commercial property.<\/p>\n

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LEIGH DELEDIO \/\/ Director, UFinancial<\/figcaption><\/figure>\n

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Borrowing rules and requirements<\/strong><\/p>\n

Some loans are limited by the size of the SMSF and minimum contribution requirements. The general borrowing conditions are strict, and the fund must comply with a few rules.<\/p>\n

The property must:<\/strong><\/p>\n