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

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

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  1. s_foulds

    s_foulds New Member

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    I'm new to SMSFs - is it legal use the funds for financial advice, directly related to the fund?
     
    s_foulds, 27th Aug, 2012
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 27th Aug, 2012
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  3. Superman__

    Superman__ Well-Known Member

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    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
     
    Superman__, 8th Sep, 2012
    #3