The Australian Securities and Investments Commission has warned Self Managed Super Fund trustees on taking in advice from Real Estate Agents in the recently concluded CPA Australia Self-Managed Super Funds Conference, citing that misleading advice can lead to serious legal issues.
With the rise in property investments using SMSF’s, trustees should only take advice from professionals with an Australian Financial Services (AFS) licence. The ASIC is concerned with the growing number of false advertisements to entice property investors, such as getting $100,000 tax free when investing in NRAS. Seeking professional advice from certified financial planners ensures that the benefits and risks of property investment are clearly outlined.
Read more about this on the Property Observer website.