Can you live in a property bought thru your SMSF?

Discussion in 'Superannuation, SMSF & Personal Insurance' started by sharejunky, 1st Jun, 2009.

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  1. ashes

    ashes Well-Known Member

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    Ok, This is my limited understanding. I can't find the info I am looking for on the ATO site at the moment.

    - A super fund's purpose is to invest for retirement (simplified)
    - A super fund is not allowed to carry on a business.
    - Share trading (vs share investing) is classed as a business by the ATO. However the definition of trading vs investing is grey.
    - If you super fund breaks the rules (ie by trading) it is classed as a non-compliant fund, and does not get the 15% tax rate but rather the top marginal rate (47%?)
     
    ashes, 2nd Jun, 2009
    #21
  2. BillV

    BillV Well-Known Member

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    That's another benefit of holding shares in your SMSF
     
    BillV, 3rd Jun, 2009
    #22
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