SMSF property spruiker broke the rules

Key Points DIY super trustees are prone to property spruikers A court has ruled a property firm gave illegal advice Super funds were used for purchases from the firm’s sales list Individuals generally decide to set up self-managed superannuation funds to save on fees and to take control of their retirement savings destiny. They may find it’s not as easy as they thought, but the challenge of managing their savings will be an intangible benefit in itself. Plenty of people are duped into setting up SMSFs, however, usually by parties who then charge them above the odds for services...

Individuals generally decide to set up self-managed superannuation funds to save on fees and to take control of their retirement savings destiny. They may find it’s not as easy as they thought, but the challenge of managing their savings will be an intangible benefit in itself.

Plenty of people are duped into setting up SMSFs, however, usually by parties who then charge them above the odds for services they’d do better without.

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