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SMSF holiday house and furnishing it via SMSF

Discussion in 'Managed Funds & Index Funds' started by Andy Paul, 9th Oct, 2019.

  1. Andy Paul

    Andy Paul New Member

    Joined:
    9th Oct, 2019
    Posts:
    1
    Location:
    Nelson Bay
    Hello
    I have purchased my neighbours residential house and being in a sort after holiday area I am going to set it up as a holiday rental... the appraisal indicates that it will earn more for the fund vs permanent rental.. I will give it 18 mo this and re evaluate
    Can I furnish the property via the smsf account if I keep a log and receipts of all purchased?
     
    twisted strategies likes this.
  2. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    1,159
    Location:
    QLD
    if being used as a holiday rental , i would think some furnishings would be mandatory

    but new v. used/refurbished might be an interesting debate

    some would think the holiday makers would be hard on the furniture so new + insurance v. old and easily replaced might be an interesting financial exercise

    ( but NOT so shabby that the furniture injures the guests if it fails )

    good luck

    PS is the 'holiday home' close to healthcare services , if so it might be suitable for retirees and long term rental , with the Federal Government assisting in the rent .. just a thought