DON'T LET YOUR SUPER WITHER AWAY!!! YOU CAN USE IT TO INVEST IN PROPERTY.....
Due to recent changes to Superannuation legislation Self Managed Super Funds can now borrow money from banks and other lending institutions. You can now utilise your super to buy property.
You may for eg use your current super lump sum as a deposit on your purchase and borrow for the balance needed to settle. The self managed super fund is essentially the owner of the property.
The property must be as an investment until such time as you reach pension age. You may then utilise the profits personally resulting from your investment.
Until the new legislation came into effect most people allowed their Super to just sit there submitted to numerous administration costs. Some chose to invest in the share market or other investment avenues that were subject to severe fluctuation and loss.
You can then pay the loan against the property using your salary sacrifice. At least your know where your super is and where its going in time.
Imagine having your own investment property growing to the day of retirement.
You will be pleased to know that there are numerous tax benefits. We can refer you to our own personal taxation specialists in super funds.
We look after the entire process from finding your super, rolling it over into your own managed fund account and then you just have to find the property you wish to purchase.
We draft the required trust deeds and liase with the Taxation Department, an essential part of the legal process of having your own self managed fund.
Its about time we all control our own hard earnt superannuation rather than someone else that benefits financially.
