Investing In Property Through Self Managed Super Funds - Top Tips



http://InvestingInPropertyNOW.com.au holds a whole swag of commonsense investing in property advice and tips from Citrine Property Investors Managing Director, Ralph Rintoule. Here's an excerpt of what Ralph talks about in this video: "Self managed super funds are the fastest growing sector of the financial industry. Now it is important that you understand that in this article I'm not giving you financial advice - because I'm not qualified to do that anymore. I was a licensed financial planner with an ASIC license but I let that lapse because my real passion is property, and this has also led me to working out a bullet-proof system for investing in property using self managed superannuation funds -- and doing it the right way. It's really critical when you're starting up a self managed super fund, or if you already have a self managed super fund that it complies with the act. It's this act, which is a superannuation industry supervision act that's really important, but the tax office actually administer it, look after it and will come and scrutinise it, so there is no way to 'fudge' it. It's really critical that you are put in contact with the best and most qualified people to give you a broad range and spectrum of investments, including property that you can have. Some of the problems with clients and people that are referred with the self managed super fund, are that they think it's their money, however, it's not. You can't just use that money to pay bills, go on holidays, buy a car, or that sort of thing.You don't want to be audited by the tax office who'll declare it non-conforming and shut you down. Whatever's in the super fund you'll be paying tax on at the highest rate plus a fine. So it's just as easy to do it correctly from the start. If you already have a self managed superfund, it's really important that you are put in touch with people that can go over your super fund and the articles of your super fund to make sure that you're fully complying with everything in the act. Some important questions to ask yourself are: 'Can I only have the one person in a superannuation fund where normally we all think that it has to be four people?' Well yes you can; 'Can I borrow in the super fund?' Yes; 'What happens if I want to sell a property in the super fund?' You just trade normally, complying with the act all the time. You can buy and sell and do whatever you like within the super fund. It also gives you a lot of great tax advantages, and a taxation accountant would be able to give you all the correct information on this matter. That's the key. It's really important to control your finances because many people haven't got a clue where their money is. They just don't know. It could be part of a building in the CBD. It could be offshore. Warren Buffett said your superannuation fund generally goes in three ways: one third's losing money, one third's at a standstill and one third's making a profit. You need a fund that's broad reached, and you don't want to just have one particular asset class." You can also get to the Citrine Property Investors website by simply typing http://citrine.com.au

Comments

  1. This is very good
  2. lol very entertaining vid, subbed and liked:p
  3. great great great i looooved it so much
  4. i put this vid on stumbleupon


Additional Information:

Visibility: 3604

Duration: 3m 35s

Rating: 18