Learning about self managed superannuation rules opens what you can and cannot do in a SMSF. Yes, unfortunately there are rules about investing in a self managed super fund, some are understandable and others really don’t make sense to the investor who wishes to apply normal investor behaviours. Briefly these are most seven most common questions of what a SMSF can or cannot do;
- Can have up to four members.
- Has a trustee to run the SMSF, either Individuals or a corporate trustee.
- Can’t transfer residential property currently owned by any member of the fund into the fund.
- Members of the fund or relatives can’t live or stay in a residential property owned by the fund.
- Can buy any investment asset that fits the investment strategy of the SMSF.
- Can instruct an employer to pay their compulsory superannuation contributions into their SMSF
- Can make additional payments into the SMSF as the per the current rules allow.