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Can I use funds in SMSF ti pay for financial advice?

Discussion in 'Superannuation, SMSF & Personal Insurance' started by s_foulds, 27th Aug, 2012.

  1. s_foulds

    s_foulds New Member

    Joined:
    27th Aug, 2012
    Posts:
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    Location:
    Melbourne, Australia
    I'm new to SMSFs - is it legal use the funds for financial advice, directly related to the fund?
     
  2. Terryw

    Terryw Well-Known Member

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    9th Jun, 2006
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    Location:
    Sydney
  3. Superman

    Superman Well-Known Member

    Joined:
    6th Nov, 2007
    Posts:
    343
    Location:
    Gold Coast, QLD
    Yes SMSF monies can be used.

    Initial advice would not be deductible to the SMSF, however subsequent reviews and ongoing advice will be.

    Just hope the advice is good advice and pays for itself many times over!

    All the best :cool:

    SM