Superannuation?
Jun 1st 2006 | 12:32 pm
#16
(It's not my real name)
Joined: Sep 2002
Posts: 12,469
From: Ilukapool. WA
Re: Superannuation?
Originally Posted by Paul and Chloe
Jun 1st 2006 | 2:02 pm
#17
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Joined: Oct 2002
Posts: 875
Re: Superannuation?
Not sure how you would get the money into the fund to buy the property if you are starting from scratch, as I believe it is not possible for SMSF's to take out loans. I think, only think mind you, that I read somewhere a while back that it probably cost about $1500 p.a. to run your own fund. You might want to check as I think it may have to be audited each year.
Jun 1st 2006 | 2:06 pm
#18
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Joined: Oct 2002
Posts: 875
Re: Superannuation?
Some links for some light reading for you
http://www.ato.gov.au/super/content....tent/19104.htm
http://www.ato.gov.au/super/
http://www.lawcentral.com.au/CreateD...nk.asp?docId=2
http://asic.gov.au/fido/fido.nsf/byh...r?openDocument
http://www.superchoice.gov.au/employees/self_managed/
http://www.taxlawyers.com.au/Manuals/superannuation.htm
http://www.ato.gov.au/super/content....tent/19104.htm
http://www.ato.gov.au/super/
http://www.lawcentral.com.au/CreateD...nk.asp?docId=2
http://asic.gov.au/fido/fido.nsf/byh...r?openDocument
http://www.superchoice.gov.au/employees/self_managed/
http://www.taxlawyers.com.au/Manuals/superannuation.htm
Jun 1st 2006 | 2:42 pm
#19
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Joined: Nov 2004
Posts: 350
From: Sandringham, Vic
Re: Superannuation?
To my knowledge you are correct regarding the fact that Superfunds can not "borrow" money, I guess if you come over from the UK (or anywhere) and bring across a large pension fund you may be able to buy somewhere outright?? Although I think that the rules for bringing over pensions from the UK has changed since April this year too!
