Finance - Superannuation

Beware super’s property sharks

Posted on October 3, 2013 by | 0 Comments
THE problem with self-managed super funds is not that they’re buying residential property, it’s that they’re surrounded by sharks as they do it. Tax breaks tend to reduce one’s critical faculties. We saw that with agricultural investment schemes, which paid commissions of 10 per cent to financial planners and mostly collapsed, and now property developers are paying similar commissions to get SMSF cash. Noel Whittaker, the author and financial adviser, has been campaigning against property...

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