Self Managed Super Fund Loans

Many Australians choose to establish a self-managed superannuation fund (SMSF) to build their retirement nest egg.

The SMSF must be run for the sole purpose of providing retirement benefits for its members. An SMSF differs from an industry or retail super fund because it gives the trustees in the fund control over how retirement savings are invested. Those who are part of the SMSF must ensure it complies with tax and superannuation laws.

The SMSF can use its funds as a deposit to purchase a residential or commercial investment property and take out a loan for the remaining amount required to fund the purchase.

Strict conditions apply when using your SMSF to purchase property. Any rental income or capital gains from the property are reinvested into the fund and can only be accessed at retirement.

To apply for an SMSF loan, you will need to provide a certified copy of the SMSF Trust Deed, a certified copy of the Custodian Trust Deed, at least three years of the SMSF’s audited financial statements, 12 months of SMSF bank statements as well as rental estimates and a copy of the contract of sale for the property being purchased.

Specialists at Finsure Loans can help if you want to obtain a loan for your SMSF.