Buying Property in an SMSF

A SMSF can purchase property as an investment. If the property purchased is residential, it can not be lived in by the members or any relative of the members of the fund. If the property purchased is commercial, it can be rented to business owned by the members, so long as the commercial property is… Read More

Lump Sum Withdrawals

It is possible to withdrawal a lump sum from your SMSF, these are the most common circumstances for when you are able to take one: Any unrestricted non-preserved amounts can be withdrawn as a lump sum any time. If you have met a condition of release, such as met preservation age and are fully retired,… Read More

Account Based Pension

Main points to consider regarding an account based pension: You must have satisfied a condition of release in order to start an account based pension. The most common condition of release is to have reached preservation age and fully retired. The income earned by your superannuation fund when in pension phase is tax free. If… Read More

Transition to retirement pension

Important aspects of a transition to retirement pension: You must have reached preservation age in order to start a transition to retirement pension (same as any pension). Your preservation age varies depending on the year you were born. Date of birth Preservation age Before 1 July 1960 55 1 July 1960 – 30 June 1961… Read More

Transferring Benefits between funds

Transferring from retail fund to an SMSF: Most retail funds will have a “Benefit Rollover Request” form on their website which can be used to request a rollout of funds. You are able to rollover the full balance from your retail fund or a partial amount if you would like to keep the retail fund open.… Read More