With the budget looming the ATO have hinted on possible changes to super fund borrowing. It appears that NAB are already starting to close their SMSF lending options as early as the end of the month i.e. May 2015.
A Self Managed Super Fund (SMSF) is potentially one of the best strategies for you to consider, if you haven’t already done so, to plan for your future and grow your wealth in a tax effective environment.
SMSF’s are an increasingly popular option for many people as they allow you to:
- Have complete control over your retirement portfolio
- Have increased investment choice and flexibility
- Potentially reduce administration fees
- Purchase an investment property leveraging your super fund
- Manage or eliminate Capital Gains Tax
- Pool your superannuation assets with a partner or family
- Control who benefits from your estate
If you have considered purchasing property with your super, time may be running out to take full advantage of the potential benefits offered under the existing borrowing arrangements available to a SMSF.
I have said many times over the last couple of years that lending and investing, particularly in property, within a SMSF may become more difficult due to the sheer number of people taking advantage of the SMSF gearing opportunities.
Don’t put it off any longer! Make it your priority! Give me a call – lets get the ball rolling on maximising your super.