Should I start an SMSF before the government loses all my super?

Discussion in 'Superannuation' started by TheEnd, May 17, 2016.

  1. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    4,037
    Likes Received:
    1,252
    Trophy Points:
    113
    Location:
    Australia
    I don't agree. It so easy to do now, and it's flexible. For example, if you are running business and you need an office, you can buy it in your SMSF and rent it to your company. (Yes, that is legal for Pty Ltd's provided you pay "market rate" rent)
     
  2. Topherclaus

    Topherclaus Active Member

    Joined:
    Nov 15, 2015
    Messages:
    562
    Likes Received:
    38
    Trophy Points:
    28
    Location:
    Northern Rivers, NSW
    I actually spoke to my accountant about this today. He reckons the biggest loan a bank would consider on property for a SMSF is around 75% but even that would be difficult. So you'd need 25-50% of the capital already, which means you're locked out of that market for now.
    I'm also looking to go down the path of taking control. I'll most likely look at some small amount of PMs but I kind of figure I've already future-proofed myself with my personal stack. I'll be going down the path mostly of some PM miners, lithium miners, alternative energy providers, that kind of thing. Markets that I see will be strong over the next 3-5 years for sure and reassess every few months and create a future strategy down the track.
     
  3. House

    House Administrator Staff Member

    Joined:
    May 1, 2012
    Messages:
    9,708
    Likes Received:
    305
    Trophy Points:
    83
    Location:
    Stack City
    ^^^ can borrow upto 80% if the fund has a corporate trustee. $400k will get you a decent house in good old Brisbane.

    Here's a good thread to read- http://forums.silverstackers.com/topic-51988-smsf-is-there-a-number-not-worth-doing-it.html

    Look up the ATO asset allocation breakdowns for SMSF's, commodities are about .5% or so of overall total holdings and for good reason. Choosing something because it is 'simple' is definitely not a good choice in the long run ;)
     
  4. Revils

    Revils Active Member Silver Stacker

    Joined:
    Jun 20, 2013
    Messages:
    906
    Likes Received:
    62
    Trophy Points:
    28
    Location:
    Australia
    This is why you shouldn't have an SMSF - I don't want to be a bully, but if you don't understand basic investment principles just leave it in your current fund.
     
  5. REDBACK

    REDBACK Well-Known Member Silver Stacker

    Joined:
    Nov 22, 2011
    Messages:
    3,551
    Likes Received:
    343
    Trophy Points:
    83
    Location:
    Melbourne
    My great grand father used to say "Never a better lesson was learnt without the loss of money" roughly translated from the german.
    Jump in and learn from the inside its not that daunting,make reading and learning your best friend.
    Plenty of resources available for free to help you to keep your SMSF compliant and your paid resources are your wicket keepers.
    My education fund runs around 200k plus ATM

    Love NIKE's motto ~Just Do it :)


    REDBACK
     
  6. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Well TheEnd isn't running a business or need an office - he's unemployed.

    Dicking around with his super is a waste of time that could be better spent updating skills and/or looking for a job
     
  7. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    4,037
    Likes Received:
    1,252
    Trophy Points:
    113
    Location:
    Australia
  8. TheEnd

    TheEnd Well-Known Member

    Joined:
    Oct 6, 2011
    Messages:
    2,550
    Likes Received:
    28
    Trophy Points:
    48
    I think i'm going to wait until both the big elections are over and done with.

    Will re asses the PM price after the elections.

    I'm hoping Trump wins the U.S election.
     
  9. REDBACK

    REDBACK Well-Known Member Silver Stacker

    Joined:
    Nov 22, 2011
    Messages:
    3,551
    Likes Received:
    343
    Trophy Points:
    83
    Location:
    Melbourne
    God bless you!

    REDBACK
     
  10. col0016

    col0016 Active Member

    Joined:
    Jan 4, 2011
    Messages:
    2,546
    Likes Received:
    4
    Trophy Points:
    38
    Location:
    Australia, Melbourne
    Look at some of TheEnd's past posts and you'll see why the less he has to do with his money the better.
     

Share This Page