All Topics / Help Needed! / SUPERANNUATION

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  • Profile photo of phill666phill666
    Member
    @phill666
    Join Date: 2012
    Post Count: 10

    Hi guys, these days we can borrow money from lenders to invest against our superannuation.. does anyone have a good super fund they know of? im currently with sunsuper and im not sure if I could be getting better. Currently I pay $4.50 a week for life insurance with sun super which I actually dont want.

    any recommendations of people in the know would be a great help.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Check out the CBus super website (industry fund). The amount you pay for insurance will vary depending upon the amount of coverage (number of units) you get.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    phill666 wrote:
    Hi guys, these days we can borrow money from lenders to invest against our superannuation.. d

    I think your wording there is out of whack.

    you cannot borrow to invest against superannuation. What you can do is set up a SMSF and the trustee can borrow to invest in property (or other single acquirable asset). ie you cannot borrow, but the trustee can (property held in custodian trust).

    Sunsuper was voted one of the best industry superfunds in 2012 – recall reading it somewhere.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    https://terryw.com.au/
    Email Me

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

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Oh and remember, "past performance is no indication of future performance", or so they say.

    Profile photo of phill666phill666
    Member
    @phill666
    Join Date: 2012
    Post Count: 10

    Yes your right my wording is out of whack,

    What im trying to say is can we use our super as some form of equity to borrow money from a lender?

    And it was advertised on the tv about sun super getting an award. not sure how on the stats though. Iv been out of the country for 3 years and only just returned a few months ago.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    phill666 wrote:
    Yes your right my wording is out of whack,

    What im trying to say is can we use our super as some form of equity to borrow money from a lender?

     

    No.

    Indirectly, perhaps. There is a new product which allows a person to invest their super into a property trust. This person is then about to borrow money from an associated trust to enable them to borrow to buy residential property int their own name at up to 95% LVR with no mortgage insurance. New product.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    https://terryw.com.au/
    Email Me

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

Viewing 6 posts - 1 through 6 (of 6 total)

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