All Topics / Help Needed! / Super to buy Residential Property
Hi there,
Thanks in advance for any advice
I did move to QLD from SA in Jan 2020 as it is my dream to have a property with more than an acre of land.
I have only a part time job now so it may take ages to get enough money to buy a house with some land.
Just wondering can I use my Super to buy a residential property with land and rent it out to myself. That means I will get three market rent appraisal from three different real-estate agents and pay the market rent to my SMSF. Is it possible? I cant see any other possibilities to own a house with land otherwise in near future. I don’t see the point having lot of land when I am old and not able to walk around, i would rather get it now.
Thank you
Aljo
This would breach superannuation legislation.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Unless… If it was a farm, there is a possibility of living on in the house and surrounding 5 acres.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Terry
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