Anyone got a SMSF?

I'm looking at purchasing a property to run my business out of, and I'm wondering if it might make sense to purchase it via a self-managed super fund?

Does anyone have any experience with a SMSF? I have a couple of friends that pretty much got duped into SMSF scams, but for what I'm looking at, and with my limited knowledge this would seem to make sense, especially is Shorts goes ahead with slamming down on negative gearing once he gets in.

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  • SMSF's are fine, it's what you invest in that will determine whether it's a good idea or not.

    I personally reckon ALL property (residential and commercial) in Sydney is still very overpriced and still has quite a way to fall. The banks have been encouraged by the RBA to loosen their credit criteria which is a certain indicator that they are very nervous about what may be looming - they're literally telling the big 4 banks to ignore what is coming out of the banking royal commission.

    I would sit tight for 12 months and see what eventuates. Commercial rentals are currently low compared to purchase costs  - I'd personally do a 12 month lease and take it from there. I reckon the cost of your rent would be ALOT LESS than the depreciation a property you buy today will suffer over the next 12 months - and beyond.

    • Yeh, I don't disagree with anything you've said but my decision to buy isn't purely a financial one. TBH, I'm just keen to settle down into a space. I've moved  the office three times now in three years now and I just want a space that I can make our own, without literally dumping cash into a fit-out that I'll have to rip out when we leave. It's actually a home that's just off the main drag, that is an area that will get rezoned at some point in the next decade, so I'm looking at it, as a short-term nice-place-to-work + long-term investment thing which is why I'm thinking it suits to do via a SMSF

      • Yeah, you can't always put a price on having your own place - residential or business. It's only money anyway mate :)

        I'm assuming it's around Rivo somewhere - on the fringe - so maybe it's a good medium/long term investment anyway. Rivo as we know it will be a distant memory in not too long - the urban sprawl has arrived!

  • This reply was deleted.
  • I work in this area and discuss with people the pros and cons. There has to be a valid reason why you would want to do it and there are many rules and obligations that have to be fulfilled. Quite often a Bare Trust has to be set up for the funding side of things. Ive seen a lot of people get spruiked into doing it and then when the ATO comes knocking they are left holding their short and curlys wondering why they did it in the first place. Its not something you do lightly and you will need advice. Speak to a SMSF accredited planner (not all planners are accredited to provide SMSF advice).

    • Eddie's comments are sound.

      I have had an SMSF for many years. One of the first things you should make sure you have a good manager of SMSF from an accounting and legal perspective. Premier Superannuation a Sydney based firm are excellent and arrange everything for you.

      Investment advice is a two pronged issue in an SMSF, firstly the legal and accounting ramifications and having an auditor who works with the actual manager.

      Secondly is the investment's themselves and no advice is adequate until your profiles are established with regard to achievements, needs and risks.  You may for example be able to purchase something with a lease combined with a call option to purchase at a later date which would change the profile of market risk......at a cost.

      The thing to be aware of is the amateur investment advice like one of the posters on here who may have a view of the "market place" but have no idea of the individual investment, advantages and disadvantages.

      Some one like yourself (relatively young age) with  super fund investment's will run through a series of investment cycles and you will only be very lucky getting it right on entry from a perspective of "picking the market" my guess is your investment horizon is long and that criteria should be taken into account along with all the other aspects mentioned.

       

      • Pretty poor attempt at a dig at me Poppa - as usual..

        My comment was not "amateur investment advice" and is hardly in anyway missleading or dangerous - it's a comment on a blog started by Phil for the purpose of discussion. Everything you have written here is simply worded-up rubbish probably directly from a pamphlet in a petty attempt to make yourself sound like the big man in town. Lame as.

        How about "make sure you get good professional advice and remember, you're pretty young so look at the long term, there's plenty of time for a few mistakes"

        No, as usual you have to carry on like a wrinkly old f-wit trying in vain to puff his chest and have constant jibes at people for no reason. How many times have I responded or referred to any of your posts in the last sevweral weeks - that would be zero.

        Grow up a bit and stop acting like a fool. Your're embarrassing yourself.

        My view of the "maket place"  is fine by the way. I certainly wouldn't be taking advice from a nobody living in Brisbane. Do I have a bigger bank account than you? Bigger investment portfolio? Better Education? Higer standing in my field of profession? Better Business? Bigger income? Better cars? House? . . . . how about a newer Cirrus?

        I'd bet my life the answer to the lot is yes.

        So f*ck off with your silly attempts at condescending jibes little man. The adults are growing tired of you.

        • You really are that person that was identified by Eye Ball a long time ago. If you need to say all those things to make yourself bigger......good on you Kram.....looks like we see what the real Kram is all about.

          Your favourite nobody in Brisbane.....you forgot one thing though....I am sure you have a bigger diick....that should make you feel very important over such a "little man" maybe a bigger "diick" in every department.

          Have a merry Xmas Kram, sounds like you may have a little bee in your bonnett......buzz buzz

          PS I set up and established an Investment advisory service for a bank in its infancy when Financial Advisory services were first coming into vogue, I also consulted with one of the finest research based companies in this country in doing that exercise....their name was IPAC and if you wanted to check out the history of that company and its past directors, feel free to do so. Paul Clitheroe is one of those directors. You may have heard of him and he liked to stay at my house in Brisbane when he visited. Of course that house would never have been as big as yours. Good luck in trying to be the biggest and the best Kram, I really don't care if you are the next president of the United States by the way.

          • One more quote for the adults Kram.....what happened to you Kram?

            Where you been fella? I was going to email you but I've managed to lose your email address. Welcome back mate - don't go running off again without letting me know :))

            • Ok kiddies, settle down. I've got a bigger website than both of you so I win.

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