The discussion re SMSF's has been good.
My accountant advises that as long as you have a set strategy (written) for your super fund that acknowledges risk and is also balanced there is no problem in doing some trading. Mine has been audited and OK'd. (I have no doubt if you played the whole fund in speccies the tax office would not be happy. It would also be b$^&*y stupid!).
I have a combination of property, cash, long term shares, and I also trade a small amount short term on various stocks including speccies. It is all laid out on a risk management basis. Obviously speccies are a very small part.
Apart from that I make more money trading than sitting, even on ASX 200 stocks.
Anyway, various advisers have differing views, and SMSF's dont suit everybody.
Happy New Year to all, and lets hope EXT takes off in 2007.
The discussion re SMSF's has been good. My accountant advises...
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