No, you’re not allowed to live in an SMSF held property, it must be an investment for the purpose of your retirement. So if the rent drops and you need to put in more from your pocket to keep repaying the loan, it’s a bad situation. You’re not allowed to get that money back out until retirement. Anyway, what Morrison is proposing is different. He’s planning to allow removing money from one’s super to put a deposit down to buy a home. People who need to do that, are also the ones who can’t get loans because they’re not able to save the deposit on their own accord. It’s absolutely dangerously shit policy from an absolutely corrupt government.
