Use Your Super To Invest In Property

Hi Josko!

Pure curiosity - how did you find the process back then? Was it relatively easy and has gotten slightly more painful or was it simple back then and gotten harder?

Did you do it after September 2007?

Any comments much appreciated!

Alysha

www.gatherumgoss.com

Hi Alysha,

It was not difficult. I purchased June 2006.

It did however cost about 10k to set up. My accountant had to deal directly with an ATO Solicitor. You can imagine the ATO can charge what the darn well please!:eek::rolleyes: The ATO approve the Joint Venture between your Trust and SMSF and off you go!

You apply to any bank you please for a loan.:)

Regards JO
 
Whose name is the property registered in and if it is registered in the superfund's name how do you get around the borrowing prohibition? Can you do it without a non recourse loan? Was it necessary to offer alternate security?
 
Whose name is the property registered in and if it is registered in the superfund's name how do you get around the borrowing prohibition? Can you do it without a non recourse loan? Was it necessary to offer alternate security?

hey there,

I assume you are talking to me?

Property Title is Josko as Trustee for the Josko Trust. (Not SMSF)

You can get any loan you please. Although getting a loan in the Trust name these days can take a fair bit of patience.:eek:

Regards JO
 
Back
Top