Hi....I'm I able to roll my super into a self managed fund to purchase my first home?
Ange

Hi Ange,
the general rule is that to have a self managed super fund you would probably need to have a minimum of $300,000 to make it worthwhile as the costs of running a self managed super fund are higher than your normal tax bill. They have to have an audit done by an independent accountant each year. It's best to talk to account about your position with a self managed super fund.

You cannot live in a property that is owned by a self managed super fund. This self managed super fund is an investment vehicle and you are not able to benefit from it while you are under retirement age. Again you should talk to your accountant about this as I will give you all the rules around self managed super funds.

The above is based on general information that I know from being in the industry and having my own self managed super fund. That is my disclaimer. :)

All the best
Richard

Hi Ange,
The simple answer is no, unfortunately you are not allowed to live in a residential property that is owned by your self managed super fund.
One of the reasons for this is that your super is designed to provide an income to fund your retirement and you would need to sell your home to access an income.
If you are ready to think about self managed super I would speak to a financial planner/adviser and look at your whole financial strategy together
Best of luck
Scott

This would be OK if the property were purchased for investment and not for you to live in.
The next question is how much you have in super.
As a general rule, I believe that people need over $220k to move into an SMSF due to the costs of setting up the fund and maintaining it (accounting fees, audit fees etc.).
To go down that path (SMSF) you need a very good Financial Planner to assist you. Get a referral from someone you know and trust.