on 05-10-2016 09:54 AM
I'm commenting on the recent newspaper and TV stories about SMSFs "dangerous" plays in the property market "which is causing property prices to rise".
Firstly, I think this is a beat up and secondly, the last figures that I saw from the ATO doesn't support this assertion. The only point in these stories that I think is valid is the assertion that the limited recourse borrowings for property are potentially dangerous - and I agree with David Murray's report on this practice.
Finally, the stories all seem to make a big fuss about the SMSFs share of the superannuation pot growing from about 20% to about 30% in the last 10 years. The conclusion (the stories', not mine) is that everyone is rushing to set up a SMSF and roll over their "professional super funds" money into their SMSF. Maybe much of the percentage growth is due to the "professional funds" overall poor returns during that time.