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

[SilverDJ]

just leave your super alone and focus on improving your income and savings

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)

 

[Topherclaus]

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.

 

[House]

^^^ 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

 

[Revils]

O.k House so what sort of investment would provide income or dividends?

I'm a bit confused now??

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.

 

[REDBACK]

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

 

[trew]

just leave your super alone and focus on improving your income and savings

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)

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

 

[SilverDJ]

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.

With the banks esuperfund uses, it's 70-80% LVR
https://www.esuperfund.com.au/property/borrowing/residential-property

 

[TheEnd]

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.

 

[REDBACK]

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

God bless you!

REDBACK

 

[col0016]

just leave your super alone and focus on improving your income and savings

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)

Look at some of TheEnd's past posts and you'll see why the less he has to do with his money the better.