Buy property
with super

An SMSF needs its own bank account. We provide access to the Macquarie Cash Management Account (CMA) for the following reasons:

• No account keeping fees or transaction fees;
• Fast and 100% online account set up;
• Data feeds and read-only accountant access;
• Great mobile bank app and Australian-based customer service;
• Accepted by all industry and retail super funds for electronic transfer via SuperStream;
• Government Guaranteed up to $250,000.

Keeping your SMSF money separate from your personal money is essential when you have an SMSF. Because most people don’t use Macquarie for their everyday personal banking, using Macquarie helps ensure no costly mistakes.

It is important to note that it is not compulsory to use the Macquarie CMA to use the services of Grow SMSF. We will only provide you with information on the Macquarie CMA and assist you with the administrative aspects of setting up the account based on your instruction. Please refer to our Advice Disclaimer for further information.

No. Grow SMSF is completely independent. We do no receive any commissions, referral fees or any other compensation from any property developer, mortgage broker or any third-party. SMSF property investors should stay away from ‘one-stop-shops’ that promote buying property with super.

There are a number of differences if you were to compare Grow SMSF to many of the low cost online only service providers available.  We recommend anyone comparing SMSF service providers look at the following as part of their research:

1. Service: We provide personalised phone and email support.  You are not forced to make all communication via an online portal. Our phone number (1300 651 263) is available during business hours (AEST). Check to see whether other providers have a phone number you can call to speak to a human.
2. Transparency: Grow SMSF does not receive any commission or referral fees from any third parties include SMSF property lenders. Some other SMSF service providers receive commissions which increase the ongoing costs of using their preferred suppliers.  Check the Product Disclosure Statement (PDS) of those providers to see how much they receive in commissions.
3. Work Required from you: Some providers are not ‘full service’ SMSF administration providers – they could better be described as an online accounting system with an SMSF audit and lodgement function attached.  Grow SMSF does not require you to categorise or code any of your SMSF transactions yourself.

The above is not a comprehensive list. Take a look at our blog to find more specific information on comparing Grow SMSF to other service providers.

Residential property = No

Commercial property = Yes

In general an SMSF cannot accept transfers of assets from the members.

Once of the exceptions is commercial property. The property must meet the definition of business real property to be transferred to an SMSF.

Yes!

If your mortgage broker has access for SMSF loans from their lenders, you are free to utilise their services to help you with your SMSF loan. Grow SMSF doesn’t recommend any SMSF loan product or receive commissions or referral fees from any third-party brokers or lenders.

The setup fees for a new SMSF are as follows:

• $770 with individual trustees (not recommended for SMSF property investors)
• $1375 with a company trustee

Grow SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve. You can set up a new SMSF with Grow here: Set up an SMSF

Grow can organise a bare trust deed (holding trust) for your SMSF property purchase. Bare trust fees are:

• Bare trust with company trustee – $1375
• Bare trust only – $799

It is possible to use the same bare trust trustee company for multiple SMSF property purchases and simply create a new bare trust for each investment property bought by the SMSF. A bare trust is created at the time of, or shortly after, a contract is signed to buy SMSF property.

You can order your SMSF bare trust online here: Bare Trust

No. Grow SMSF does not hold an Australian Financial Services Licence (AFSL) or is not an authorised representative of an AFSL holder. The advice and support we provide to our clients is limited to either taxation or the compliance of your self-managed super fund under the relevant laws and regulations.

Grow SMSF is not a financial adviser. We do not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of investments or superannuation interests.

Any information contained within this website is provided as an information service only and, therefore, does not constitute, and should not be relied upon as, financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed.

Alternatively, for financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision.