Using your SMSF you can purchase a residential or commercial property either outright or using borrowings. Legislation changes that occurred in 2007 means you can now borrow to purchase investment property using your SMSF
If you’re planning to purchase investment property using your SMSF, here is the process:
- Set-up your SMSF
- Establish a SMSF bank account
- Rollover each members external superannuation into the SMSF bank account
- Future super contributions for each member to be deposited into the SMSF bank account
- Obtain pre-approval from lender
- Create Bare Trust (necessary when borrowings are involved)
- Search and select suitable property within budget range
- All rental payments will be paid into the SMSF and loan repayments will be paid out of the SMSF
We assist you every step of the way, completing most of these steps for you or putting you in touch with the relevant professionals to assist where necessary with others
More information on how to purchase investment property using your SMSF
For more information about SMSFs call us on (02) 8280 8700 or email us.