He had 625,000 shares in his SMSF before, and still has 625,000...

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mufc20

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23/09/21

18:38

Post #: 56304896
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Originally posted by Idle Wanderer: ↑

None of what follows is financial advice. It is just a basic summary of Super legislation, which says :
There is a Preservation Age.
The Preservation Age varies according to your date of birth.
For everyone born after 1st July 1964, the Preservation Age is 60.
Except in very limited circumstances, you cannot remove money from your Super account until you reach Preservation Age.
Yes, of course you can sell investments within the SMSF like shares to buy other suitable assets, like real estate, but the owner must be the SMSF.
That real estate could be:
A) Commercial real estate e.g. office/s, shops, factories.
B) Residential real estate e.g. a house or home unit.
In the case of B), that real estate cannot be lived in, or be rented by a member of the Fund or a Related Party. The list of who is a related party is rather long so I'll let you look it up.
The above would apply to someone born in, say, 1965.
Once again, none of the above is financial advice.

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He had 625,000 shares in his SMSF before, and still has 625,000 shares in his SMSF now.

He sold from his Family Trust, not his SMSF.

FEX Price at posting: 23.0¢ Sentiment: Buy Disclosure: Held
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He had 625,000 shares in his SMSF before, and still has 625,000...

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