BJT Legal - Ballarat lawyers + legal services

Hayley Coates

ASIC recently released a warning to the real estate industry that agents may be providing financial product advice in breach of the Corporations Act 2001. If a real estate agent does not hold an Australian Financial Services licence, then he or she cannot give opinions as to whether a person should use their self-managed super fund (SMSF) to purchase property. This means that a real estate agent cannot promote a property as a potential investment for a SMSF. If you are considering purchasing a property in your SMSF, you should first obtain advice from a financial advisor that is licenced or falls under an exemption allowing it to provide such advice. BJT Legal can assist with preparation of all documentation required for SMSF investments in property once all relevant financial advice has been obtained.