Can I use superannuation to purchase farm property?

Hi Brad,

Yes, under the right circumstances.

What are you intentions for the farm property would be my question back to you?

There are may successful farming families that own their properties via a self managed super fund - funnily enough I was just taking to Brendan Curran an accountant who contributes a lot to this forum on this very topic earlier today.

Best you seek professional financial & accounting advice to get it set up properly if this is something you are looking into seriously. The correct help can quite seriously keep you out of prison if you got things wrong.

Reach out if you need some help. You can contact me via email at james.wrigley@firstfinancial.com.au or 03 9909 5826.

Regards
James

the short answer is yes.

the longer answer is yes, but.......

and the but bit is where your accountant starts banging on about "sole purpose" and "arms length" and things get confusing.

your best bet is to get in front of someone who understands both super and farming and has the experience and qualifications to handle the job. It can be done but you need to get your ducks in a row, and the potential consequences of cutting corners and saving a few dollars on advice can be huuuuge.

I am sure that you will have no trouble locating someone closer than me who will fit the bill with the super and farming issues.

regards

Brendan