You can purchase residential property through your self-managed super fund (SMSF), however you cannot live in the property whilst you are still employed.
If you purchase a property in the name of your SMSF whilst you are working, you can rent it out as an investment property, provided it is not rented to any member of the fund or relative of a member of the fund.
This applies to properties which are registered in the name of the SMSF and properties which are purchased using funds from a SMSF.
The restriction arises because of the “sole purpose” test – which is that the sole purpose of superannuation is intended to benefit your retirement, not to fund your living or financial circumstances prior to reaching retirement.
The Australian Taxation Office imposes strict regulations on SMSF properties, and a breach of the rules can lead to the fund being non-compliant, which may result in penalties or fines being imposed.
If you have decided you want to purchase a property within you SMSF or would like to refinance an existing loan, please click the 'Start Here' button below, this will take you to our online Fact-find platform in which you can fill out your details.
We will connect with you within 1 business day to confirm and discuss the next steps.