Super

Viewing 7 posts - 1 through 7 (of 7 total)

comdom
Participant
@comdom
Join Date: 2003
Post Count: 92
July 25, 2003 - 2:32 pm
Hi,
Has anyone heard of dipping into your superanuation to invest in property? I have heard of such a company that can retrieve your super for a fee deposit into a trust account and then you can draw on it.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
July 26, 2003 - 11:48 am
Comdom
I haven’t heard about that before. I don’t beleive it is possible, but would love to know more details. Do you have the company name?
Terryw
[email protected]
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
NewToPI
Member
@newtopi
Join Date: 2003
Post Count: 4
July 27, 2003 - 1:47 pm
I heard similar thing of a company that shows you how to establish your own supperannuation fund and then you can direct your employer to put your super in that fund, you can use that fund to buy investment property. Sorry can’t remember the company name
Elysium-M
Member
@elysium-m
Join Date: 2003
Post Count: 259
July 27, 2003 - 6:18 pm
I’ve heard of this too, but I know exactly how oyu need to structure things in order not to run foul of the self-managed superannuation fund restrictions. One of those restrictions is that you can’t mortgage superannuation assets. If you stuff up and break the rules, your super fund will become non-conforming, and you could get slapped with 48.5% tax on the entire value of your super fund!!
The moral of the story is to make sure you get sound tax advice from properly qualified professionals.
Cheers
M
archiZEN98
Participant
@archizen98
Join Date: 2002
Post Count: 20
July 27, 2003 - 7:36 pm
I’m no expert, so seek professional advise, but I believe that if you have your own DIY Super Fund, it can purchase IPs so long as they are unencumbered, that is no loan over them.
ArchiZEN
comdom
Participant
@comdom
Join Date: 2003
Post Count: 92
July 27, 2003 - 10:11 pm
quote:
Hi,
Has anyone heard of dipping into your superanuation to invest in property? I have heard of such a company that can retrieve your super for a fee deposit into a trust account and then you can draw on it.
comdom
Participant
@comdom
Join Date: 2003
Post Count: 92
July 27, 2003 - 10:19 pm
quote:
Hi,
Has anyone heard of dipping into your superanuation to invest in property? I have heard of such a company that can retrieve your super for a fee deposit into a trust account and then you can draw on it.

This i have discovered has been done by some of the people i work with and they tell me the add is in the courier mail in brisbane under super retrivers.There is a $2500 fee (Tax Deductible) and is as easy as filling out one form. And this super is the percentage the goverment puts in, and not self contribution.It is put into a trust fund and then you can whithdrawl it.
I also found an interesting article in the sunday mail Brisbane page 83 (not Related).
” Junk food will destroy mankind”