All Topics / The Treasure Chest / Using Superannuation for deposit ?

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  • Profile photo of juzzy696juzzy696
    Member
    @juzzy696
    Join Date: 2003
    Post Count: 0
    September 22, 2003 - 2:43 am

    Hi Everyone,
    This is my first posting and I hope I’m doing it right. I was hoping someone could give me some info on using my super. I left a company after 10 years and have some money in a superannuation fund. I now work for myself and was hoping I could take that money and start my own super fund with it and put it into property investing.
    If anyone has any answers, suggestings or places to look for answers I would be very grateful.
    Thanks
    Justin

    Profile photo of GavinGavin
    Member
    @gavin
    Join Date: 2002
    Post Count: 42
    September 22, 2003 - 4:04 am

    Justin,

    My advice for you is to go and see your accountant. Rules governing super funds are very strict, the most critical one is that they are not allowed to borrow any money. SO if you wanted your super fund to invest in property they would have to buy the property outright or buy through one of the known property trust etc.
    Make sure you get proper advice!

    regards,

    Gavin

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