Using Superannuation to purchase US property

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

allig
Participant
@allig
Join Date: 2011
Post Count: 1
February 13, 2011 - 1:18 am
Has anyone used their Super to buy investment property in the USA? With the current rate of super funded growth compared to potential property growth seems like a far better option, particularly given their current market and what you can purchase property for over there.
Would love to hear from anyone who has gone down this path and any thoughts / ideas you can offer.
cheers allig
Mick C
Participant
@shape
Join Date: 2010
Post Count: 1,099
February 13, 2011 - 10:08 am
Im guessing your talking about a SMFS.
I haven’t tried this, but i dont think it;s possible as well?? because;
Every purchase needs to be authorized by your Accountant and the Financial planner of the SMFS – and i doubt any of them will allow this lol
Regards
Michael
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone Me
Same Banks. Better Rates. Served With a Passion.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 13, 2011 - 1:05 pm
Sorry Michael but i have to disagree.
The investment decision making of the fund is set by the Trustees and not the Accountant / Financial Planner and whether such an investment can be made is outlined in the Investment strategy normally set up with the original Trust Deed.
Certainly a member might take advice from an Accountant / Financial Planner.

I own property overseas in my SMSF (In the Uk admitedly not the USA) and have done for years and such investment has never caused a problem on the Annual audit.
Cheers

Yours in Finance
Richard Taylor | Australia's leading private lender
Mick C
Participant
@shape
Join Date: 2010
Post Count: 1,099
February 13, 2011 - 1:16 pm
Fair enough….i learn something new everyday
Regards
Michael
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone Me
Same Banks. Better Rates. Served With a Passion.
luke86
Participant
@luke86
Join Date: 2010
Post Count: 470
February 13, 2011 - 9:35 pm
It is definitely possible. Steve McKnight is using a SMSF to buy USA foreclosure property as well.
Cheers,
Luke
jeff2investUSA
Member
@jeff2investusa
Join Date: 2010
Post Count: 54
February 24, 2011 - 10:01 am
Qlds007 wrote:
Sorry Michael but i have to disagree.
The investment decision making of the fund is set by the Trustees and not the Accountant / Financial Planner and whether such an investment can be made is outlined in the Investment strategy normally set up with the original Trust Deed.
Certainly a member might take advice from an Accountant / Financial Planner.

I own property overseas in my SMSF (In the Uk admitedly not the USA) and have done for years and such investment has never caused a problem on the Annual audit.
Cheers

Yours in Finance
Richard,
From what I understand the SMSF is considered a trust by USA and when setting up a trust in the USA, this is were it can be complicated, I have 2 accountants in Sydney who understand whats involved in setting up LLC’s who cannot give me advise on the trust implications in the USA. How does the UK see a SMSF re tax purposes?
Has anyone used there SMSF to buy property in the USA ? If so how was the trust set up to pay tax….it is a perplexing question as these accountants know there stuff
Jeff