06 Oct 2022

Can My SMSF Buy My House?

Self-managed superannuation funds are privately managed funds that allow members to take control over their investment decisions, boost their personal wealth, and financially prepare for retirement through specific investment asset purchases that generate a returned income. The returned income will then be split among the SMSF member’s retirement savings. 

SMSF members are only allowed to buy property using an SMSF that complies with the rules and regulations in place. The rules and regulations that a member must comply with when purchasing property with an SMSF are as follows:

  • Property must pass the sole purpose test
  • Property must only provide retirement benefits to the SMSF members
  • Property cannot be rented to an SMSF member or their family members
  • Property cannot be lived in by an SMSF member or their family members
  • Property cannot be purchased from an SMSF member or their family members

SMSF members should speak with a professional lending specialist, financial advisor, or mortgage broker with experience in handling SMSF before making any large investment or financial decisions. 

There are plenty of investment assets that qualify to be purchased with an SMSF, including the following assets:

  • Australian and international shares
  • Overseas investments
  • Non-related businesses
  • Commercial and residential properties
  • Cryptocurrencies
  • Cash and bonds
  • Managed funds
  • Term deposits

If you are interested in creating an SMSF or looking for assistance with an existing SMSF, the Mortgage House professional lending specialists are prepared to provide expert assistance and advice on creating, managing, and investing with SMSF. Reach out to us today to learn more!

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