Take Control With A SMSF

24 May 2014

Superannuation is the way most Australians retire and like other superfunds, Self Managed Super Funds (SMSF) are a effective way of saving for your future, with one key difference – members of a SMSF are the trustees of the fund, meaning that they run it for their own benefit by making the decisions on how to invest the funds.

Purchasing a property in a SMSF is becoming a common trend because it’s a capital growth investment and tends to be more tax effective. There are a number of regulations around SMSF so it is best to get advice from a financial planner who can guide you and prepare the relevant documents.

However, if you wanted to have a chat with JMC’s General Manager, Brooke Foenander, she’s more than happy to share her experience of SMSF with you. Brooke and her husband Dave recently engaged a financial planner to roll their super into a SMSF. They were attracted by the element of control of their own destiny, which a SMSF offered, as you can apportion the funds in your super account as you see fit.

Having successfully consolidated their super, Brooke and Dave have now set the wheels in motion to purchase an investment property in JMC’s upcoming development, Aspire. Brooke likes investments she can see, so bricks and mortar is appealing for obvious reasons. As well as that, she knows the level of quality and workmanship that goes into a JMC product.

Using a SMSF is an attractive option for people who want to own an investment property, without having an impact on their day-to-day cash flow. You still get a loan through the bank, but this is managed through the super fund with rental return and ongoing employer contributions being used to service the loan, so nothing comes out of your pocket. You can also run a number of your insurance policies through a SMSF, which offers further advantages in terms of out-of-pocket expenses.

If you’d like to know more, feel free to give Brooke a call on 9831 2121