All Topics / Legal & Accounting / Mortgage offset

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  • Profile photo of jveswynnjveswynn
    Member
    @jveswynn
    Join Date: 2010
    Post Count: 1
    July 9, 2010 - 8:44 pm

    Is it legal to place money from a self managed super fund in to a mortgage offsett account (MISA)

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 9, 2010 - 11:30 pm

    No. assmung you mean the offset is in the personal name. If the SMSF had a loan for a property and had its own offset account then it would be ok

    The trustee would be breaching their fiduciary duties. There would also be legislative restrictions against it.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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