All Topics / Help Needed! / Buying property with your super

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  • Profile photo of TheTimoTheTimo
    Member
    @thetimo
    Join Date: 2010
    Post Count: 1
    July 21, 2010 - 3:39 am

    Hi All,

    First post here, be nice :)

    I have two questions:

    1. Can I sell 50% of an IP that I own to my super fund?

    2. Can I buy a duplex with my super fund then separate the titles (strata? using my super) and buy one of the duplexes from my super?

    I guess what in summary can I buy/sell property from myself from/to my super?

    Thanks in advance.

    Tim

    Profile photo of mpjs54mpjs54
    Member
    @mpjs54
    Join Date: 2010
    Post Count: 3
    July 21, 2010 - 7:53 am

    A super fund has very strict rules on what it can buy from its members (that's you in this case).  If you breach these rules you can be fined up to 50% of the total capital value of your super fund so be careful.

    The simple aswer is no you cannot sell 50% of the property you own to your super fund.  On the whole trustees are prohibited from acquiring assets from a "related party".  There are a few exceptionbs like publically listed shares.  (the ATo has some good guides on therir web sites.

    So you can't do it but there may be alternatives if we knew why you want to do it ?

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