Hi All,

I think I’m 25 at the moment. Bought the first two at 21, next two at 22, and another two at 23 – had them all (bar one on the water) sold by 24 to set up my own financial planning company – looking at more next year.

It’s never to late, and it’s very too early to do things right.

I would seriously look into the super issue, and if possible get some professional advice. There are arms length and related party transaction laws that were brough in July 1999 that took the effect of stopping people from using unit trusts inside their superannuation funds. While many funds still continue to use this strategy, upon close inspection from the ATO, they will not pass compliance. The ATO also issed at the time grandfathering clauses giving people the time to wind down their investments, and also put a freeze of putting any more money in their unit trusts. Closes inspection of the SIS Act (Cth) may also reveal some other issues.
In addition to this, the ATO has issued a warning regarding superannuation funds investing into assets that have a security over them, such as a bank mortgage. While they didn’t come out and say you can’t do it, it is ATO speak to say, “we would prefer if you didn’t” meaning, you shouldn’t. Hope this helps – I’m available on [email protected] if you have an other questions.