All Topics / Help Needed! / Buying ip with super fund $ and bank loan -any tips for new players? Help appreciated

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  • Profile photo of jadatom05jadatom05
    Member
    @jadatom05
    Join Date: 2012
    Post Count: 11
    July 16, 2012 - 11:54 am

    We are buying a high growth lower yield property with our super fund. Our mb says we need to hold one year interest in cash as buffer.

    How does making year on year loss impact in super does it carry forward against capital gain is there a time limit for this?

    Thoughts advice?

    Ta
    Jane

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 17, 2012 - 9:14 am

    Hi Jane

    Unless your MB is a Licensed Financial Planner i am concerned that he is giving you such advice but that is a separate issue i guess.

    If the question is can you negative gear in your SMSF then the answer is YES.

    I am at a loss as to why you need to hold 1 years cash in your SMSF as the future contributions made you you or your employer would cater for any potential shortfall and the non cash deductions claimed once you had lodged the Super Fund Tax return.

    Which lender is your MB recommending ?

    Some MB's are fairly inexperienced at SMSF lending and be suprised how many common mistakes we see if this sphere.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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