Thanks for sharing Jon, lots of interesting points I agree with. The narrative around 12% being taken off workers though imo is horse shit.
I guarantee that 12% wouldn’t be going to workers if super didn’t exist.
The $30bn a year in fees is criminal, I couldn’t be happier knowing my funds aren’t in their system!
Buy #bitcoin and self custody! 😁
Do you know about Real Property and SMSF as multiple people in my community who I help set up SMSF that includes Bitcoin are looking to collaborate further in El Salvador especially 🙏⚡🌱❤🌻🇸🇻
Do you mean how to invest in actual buildings using an smsf or is “Real Property” a thing?
Let ke know once you watched
I will tell you my idea re farmland you can live on through SMSF and borrow the money for it against your Bitcoin ⚡🙏🍃
#[3] please join this discussion and add your SMSF connections please
He's talking about the 'business real' test.
Buying a residence to live in with your super is generally not allowed.
There's an exception with farmland as long as it passes the business real test. The business leases the land & buildings (that can include accommodation) from the SMSF.
The lease needs to be done at market rates.
It's quite common for farmland to be owned by SMSFs.
Yep def can’t personally benefit ie live in a property your smsf owns. It can only be an investment.
You definitely can if it passes the business real test
This blog post goes through it pretty thoroughly.
https://bantacs.com.au/Jblog/when-your-farm-is-in-a-self-managed-superannuation-fund-smsf/
yes you set up your own company that rents the farmland from your super fund , you pay yourself a small salary in this example to run and operate the farm
You can also add x 5 people to the same SMSF so it opens the door for community collaboration
eg is that all of us who are already set up in SMSF set up a new trust that owns the farm
We then go and work the farm or set up another business on the farmland like mechanical services etc
This way you are living in your own investment as this model allows for a dwelling if SMSF farm
I had a buddy do this about a decade ago by himself & a loan against the SMSF (that's near impossible now due to bank lending policies).
I think collaboratively is the best avenue since the farm company holds the deed to the property (low risk) & receives a rental return as income. Plus you don't need to liquidate your whole fund to buy a share our two in the company.
I wouldn't mind diversifying my SMSF portfolio into a number of farms as the SMSF accrues value over time.
lets talk more about this , you can get a USDC loan against your Bitcoin at very low interest , I did this already to pay some tax on my SMSF in BTC and have been doing for x 4 years ,this means you dont have to depart with your BTC as long as you use the USDC loan for something that produces income like a farm etc
How each SMSF raises the fiat to buy shares in the Farm company is up to the SMSF directors.
It's not something I'd personally want to touch. I don't want the stress.
yes thats entirely up to the individual as you must use platform with max LTV of 25 % as some are very dangerous and offer 80-90 % LTV
So if x 5 members joined a SMSF
Set up a treasure with Multisig on Sparrow etc
You can begin collaboration easily and start buying land an d properties
If you set up like above in x 3 different set ups
this would means x 15 people involved
and you can all collaborate even further
I am going this route alone regardless
however I wish to also set up a pilot collaboration in a separate trust with x 5 other members with something small and simple like Avocados and Macadamias etc - snall simple farm to start
or does wind and solar farms fall into this catorgory?
The devil with these things, is in the detail.
There's no reason you couldn't apply the approach to a land purchase for any business.
I like to keep things simple.
At some point you'd need to speak to a financial planner on setting up the structures to accommodate what you want to do.
Then you have to convince a bunch of sceptical Bitcoiners to invest their hard earned value in your venture.
