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Self Managed Super Funds can only pay expenses that are related to the operation of the Fund. Broadly speaking, fund expenses include accounting fees, audit costs, lodgement fees, investment advice fees, premiums for life insurance, total & permanent disablement insurance, critical illness insurance and income protection insurance, and other similar expenses.
Expenses related to the operation of the fund include any expense incurred as a result of the fund operating, such as the purchase of investments and expenses incurred by an asset already owned by the fund. For example, if a fund owned a rental property, all related expenses – loan repayments, interest, insurance, furniture, improvement expenses, or any other costs – could be paid through the SMSF. However, please note that these are general guidelines only, the rules regarding investments are strict and individual circumstances vary.
For this reason, it’s imperative to get expert advice on your specific situation. Please contact us for further advice.
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