Why consider SMSFs?
George Nowak: The SMSFs of today offer incredible tax advantages and long term, not only individual but family planning accumulation and a state planning style growth as far as the combination of tax and just accumulation..
Advantages of using a professional for SMSF property investment.
George Nowak: Anything that we do for clients, you can always get on the internet. But if you want to go through the myriad of, you know potholes and loopholes and everything else that are, you know there to put obstacles in your way, go ahead and do it yourself. But otherwise the easiest part is go with somebody who is going to have a set made process and that would guide the individual through or the family through to make sure that they are getting the best possible outcome for the most cost effective way.
Advice to seek for SMSF property investment.
George Nowak: Whenever you are dealing in anything to do with money or finance, the idea really is to deal with professional people and professional people can actually help you through all of the risk areas that are associated, because anything to do with investing no matter how simple it may be, is always complex. So the best way to deal with any investment is to get the right advice and the right advice generally starts with a good accountant/financial planner because the self managed super fund environment is not only one about accumulating assets, but is also one about making sure your family has got the right protections in place. And for that you need a good financial planning side as well as a good accounting side to start you off and somebody who obviously knows a good bit about property market, if you got a bias towards property.