Self Managed Superannuation Funds (SMSF)
Did you know:
- In 2007, the Government amended laws to allow a SMSF to borrow money to buy an investment.
- Based on this ruling, it is now possible to use your Superannuation as a deposit to buy an investment property
Some basic facts:
- 4 members: SMSF can have up to 4 family members or 4 co-workers.
- $100,000 to start: Typically, you need a combined fund balance of $100,000 before you can start looking to buy a property in a SMSF.
- Borrow 80%: Your funds are used as a deposit and Banks will lend up to 80% of the purchase price.
- No personal contributions: Typically, the loan and associated property costs are fully covered by the rent and your employer Superannuation contributions. Properties with low rental returns may require additional personal contributions.
At Impeccable Finance, we have access to appropriate professionals who can assist with the following:
- Set up of the SMSF
- Ongoing management and auditing of the SMSF
- High performing investment property suitable for SMSF's
- And of course, we can arrange your finance to make it all happen.