You might have heard Self Managed Super Funds – or SMSFs – also referred to as ‘DIY Super’. While there’s no doubt that having a Self Managed Super Fund gives you much greater control and autonomy than a managed fund, the term ‘DIY Super’ can be dangerously misleading.
Self Managed Super Funds themselves are quite complex legal arrangements, and when use a SMSF to borrow money for property investment, the structures themselves and the legal requirements around them become more complex again.
Expertise required for setting SMSF for property investment
There’s little doubt that at several stages throughout the processing of setting up an SMSF for property investment you’ll draw on the expertise of a range of financial and legal professionals.
Accountant – your fund needs to prepare annual financial accounts to standard.
Auditors – every SMSF must be audited annually by an independent auditor.
Administrators – many SMSF trustees choose to have an administrator manage the daily running of the fund for them.
Tax agents – each year your fund needs to lodge a tax return.
Financial planners and investment managers – because most often your SMSF is being setup up specifically for property investment purposes, it makes sense to get specialist advice.
Legal specialists – many complex SMSF scenarios require professional legal advice.
As you can see, even the most straight-forward SMSF setups will generally require assistance from a range of specialists. Add SMSF property investment to the mix, and it’s clear why SMSFs shouldn’t be thought of as DIY Super.
At SMSF Loan Experts, we provide specialist lending advice for Self Managed Super Funds and have a deep understanding of the SMSF ecosystem – from fund setup to property investment. Over the years we’ve developed a strong network of trusted professionals. So whether you’re already setup and are looking for SMSF loans, or you’d just like some clarity on where to get started, contact us today.