Finance & Fury Podcast

Welcome to Finance and Fury, The Say What Wednesdays Edition – Where each week we answer your questions Today's question comes from Cameron We are a couple, both aged 30 with approx 70k in each of our super accounts. We are interested in SMSFs with a view to purchasing property. How would one get started? What sort of costs are expected? Do couples pool their super? Buying Property in an SMSF   First, you need a SMSF – self-managed super fund An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself.  All other funds are managed by APRA - Australian Prudential Regulation Authority - the regulator of financial organisations (Banks and supers) SMSFs can have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and compliance with relevant laws Two types of SMSF – Pooled and Segregated – Most are pooled for simplicity – where you can pool your funds to