SMSFs are vital in the superannuation system in Australia. SMSF Assets represent about 30% of the assets in superannuation, which is a long-term proposition with its focus on investing contributions or accumulated savings to become the base for retirement. In 2007, the system allowed superannuation funds to be subject to loans to acquire investments. You can take advantage of SMSF loans if you want to purchase property through your SMSF. This will provide your super balance the advantage of property growth.
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Before applying for an SMSF loan, it is ideal to revisit your investment objective and strategy for your super fund. It is vital to look at the bigger picture. Take note that an SMSF is a vehicle to provide retirement benefits for you so all investments should be made with this goal in your mind. Your objective and strategy for investment will set the scene and provide you a way to make certain that your SMSF is on track to provide you the necessary retirement benefits. If you are a trustee of SMSF, and you think it will be to your advantage to use your SMSF to buy a property through a loan, there are still particular crucial points that you need to consider before you proceed with your application. Doing this as a DIY project is not recommended as the process can be very complicated.
Because of the complex nature of superannuation laws that govern SMSF, you should obtain expert advice about the purchase of real property as well as the structure of your SMSF including the bare property trust needed.
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