Hi, if I buy a property through my SMSF can I live in the property and are there any tax implications if I did?

Hi Tamara,

No you can't. That breaches the sole purpose test.

Cheers

Glenn

Hi Tamara,
Great question, and Glenn is correct you can't live in it while it is in your SMSF.
However you could purchase a property that you would like to live in once you retire and rent it out as an investment property until retirement.
Once you retire the assets of the SMSF are yours so you can then transfer the property to your own name. There potentially maybe some stamp duties involved in the transfer so you need to factor those into your calculations.
This can be a great strategy for properties in areas were there is large potential capital growth that might price you out of the market in the future.
Keep in mind though that you cannot stay or even rent the property out to yourself or your relatives at any time while the property is in your SMSF.
Only once you retire and transfer the property.
We can put you in touch with a financial planner who specialises in this strategy if you like.
Hope this helps
Awesome Albert