Beware the property spruikers

The siren call of property is a Greek tragedy that is claiming far too many SMSF victims, but you can save yourself.

Summary: Property seminars are usually put on or partly sponsored by interests associated with a property developer. When properties are sold, the commissions for referral phone calls could be as much as $10,000 to $40,000, built into the sales price. ASIC is cracking down on these one-stop shops but more needs to be done.

Key take out: Property investment can be a particularly powerful strategy – if the right assets are chosen and enough care is taken.

Key beneficiaries: SMSF trustees and superannuation accountholders. Category: Superannuation.

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