Tax and legal advice
Rosario Carbajal

3 risks to consider before investing in SMSFs

By Rosario Carbajal

With more Australians looking to take control of their financial future, self-managed super funds are growing in popularity - but what do you need to know before you start investing? 

Blogger: Rosario Carbajal, principal financial adviser, Smart Financial Advice 

According to the Australian Tax Office (ATO) there were 545,334 SMSFs by the end of December 2014 with 6,789 of such funds opened in just the month alone.

Whereas Self-Managed Super Funds or SMSFs can be an ideal superannuation structure, they may pose some risk depending on your situation.

Here is a rundown of the risks you should consider when investing in such financial structures.

1. Insurance cover in rollover
Certain insurances that may have been part of your standard superfund may not rollover into an SMSF. Rolling over a super into an SMSF closes up your standard superfund. Since the cover is not transferable, insurance may need to be applied for again and depending on health it may not be available. As much as possible, talk to an experienced Financial Planner who can help you secure insurance and manage your investments.

2. Improper trustee structure
Setting up a proper trustee structure for your super fund is crucial for investing and lending in real estate. Lenders are particular about trustee structures requiring applicants to adhere to such regulations before they can get a loan.

You have two options: a corporate trustee or an individual trustee. Under individual trustee, each member becomes an SMSF trustee. Under corporate, the company acts as the trustee for the fund while the members become directors. You have to decide thoroughly on what trustee structure you will set up.

3. Supers that have gone dormant
Dormant means inactivity and something you do not want your investments to head to. You have to make sure that SMSFs work for you otherwise letting them sit around brings you no value. Strive for profit and not just maintenance.

You can choose to self-manage your SMSF but inexperience and lack of knowledge could only put you at risk. A better way to handle SMSFs is to choose a reliable, professional, knowledgeable, and experienced financial planner to evaluate your situation and offer suitable advice and options for services. 





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About the Blogger

Rosario Carbajal

Rosario Carbajal

Rosario Carbajal, is the Principal Financial Adviser of Smart Financial Advice and also a Tradebusters Connect Top 3 Local Business Pick. Based in Sydney’s Hills District Rosario has been in the financial planning industry for over 10 years and is accredited with AMP Financial planning for 7 years.

"We help our clients plan their future wealth and retirement. A particular specialty of our business is establishing Self-Managed Super Funds (SMSFs). This is an exciting area allowing clients to purchase property through their SMSF. We work with our clients to put them in strong positions to move forward and achieve their financial goals".

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  ["introtext"]=>
  string(144) "

Property investors are now able to identify and bid on auctions remotely using a new live-streaming functionality launched by Gavl.

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Called “Request an Auction”, the new functionality enables users to watch and bid on any Sydney or Melbourne auction remotely.

Through Gavl, prospective buyers are now able to register to bid on their preferred auction. The platform will obtain permission from the listing agent and confirm within 48 hours.

Vendors can also request to have their auctions broadcast to a larger buyer audience.

Co-founder Joel Smith said that auctions streamed on Gavl attract 47 per cent more viewers than traditional ones.

He said that Request an Auction will be valuable for remote buyers.

“Buyers are able to have Gavl attend any auction they nominate, so they will never have to miss out on an opportunity due to logistical complications in physically attending the auction.

“Vendors, too, have the opportunity to directly book an auction with us, so they can open up their event to buyers all around the world. With more potential buyers, they’re giving their property the chance to receive more bids and maximise their sales result.”

Mr Smith said that prior to the Request an Auction app, buyers were limited to what they could achieve through the Gavl technology.

Gavl is a live-streaming and bidding platform for real estate auctions.

Mr Smith said that it has streamed more than 6,000 auctions, which have achieved 3.5 million views from 50 countries.

Gavl’s Request an Auction function is currently being offered in Melbourne and Sydney only.

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Boost for investors as app sets up off-site bidding
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Having to split her time between Hong Kong and her original base of Sydney has not slowed Julia Tita’s goal of building a high-performance Australian property portfolio. Instead the resulting alterations to her strategy have positively impacted her investing success.

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Having recently purchased her 6th property, Julia joins host Tim Neary to discuss her journey, share her ups and downs over the years, and reveal her thoughts on why some properties are better than others.

Julia also explains why she no longer makes a move without the help of a buyer’s agent, why working with a strong team of specialists is extremely important and discloses her long-term property ambitions.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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How a move to Hong Kong impacted Julia’s Australian property goals
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  ["title"]=>
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The practice of property investment firms sharing undisclosed kickbacks among the supply chain involved in development sales will be outlawed in NSW on 1 July this year under the Real Estate Reform being handed down by regulators in NSW.

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Property commentator and valuer, Suburbanite’s Anna Porter, said the reform will address conflicts of interest.

She said they arise when a mortgage broker, accountant or financial planner receives part of the commission from the property firm, who receive their fees from the developer or seller.

“This puts the broker into a position by which they are being paid on both sides of the fence,” she said.

“Until now this has been a grey area and there was nothing stopping this practice.” 

Ms Porter said this has been a common practice in the industry.

"Some well-known mortgage broking firms openly admit to receiving $5,000–$10,000 per referral in their pocket.”

She also said this process has been going on for decades.

"Property investment firms commonly pass some of their commission on to the mortgage broker, accountant or financial planner as a reward to them for passing on the referral. This means that many brokers or financial service providers are making significant amounts of money just to refer on to a property firm, often totalling hundreds of thousands of dollars a year," Anna Porter said.

Ms Porter said the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will be in force from July this year, and will prohibit this practice unless the broker or referring partner also holds a real estate industry license.

"Under the new laws, if the broker takes a referral fee from the property firm, they will have to be a licensed real estate agent and also hold a corporation’s license,” she said. 

“Subsequently, every transaction that they receive a referral fee from, they will be putting their license up against the transaction and taking full liability for the conduct, practices and outcome of that transaction, even if they have little to do with the transaction; they are a party to it financially and therefore take as much risk as everyone else in the transaction.”

Mr Porter said where a referrer holds a real estate license, and receives a part of the sale commission, they may find themselves in breach of the ethical requirements under the act.

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‘Common’ referrer practice of being paid on both sides of the fence coming to an end

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