Yes, but only after transferring the property from your self-managed super fund (SMSF) to yourself. 

This can only occur upon retirement. 

As the trustee, you cannot live in the SMSF property if it’s still owned by your super fund, even after retiring. This rule applies to your relatives (no matter how distant) and members of the fund too.

The property also can’t be rented by trustees, members or their relatives before the transfer occurs. 

Please be aware that you could be forced to pay eye-watering penalties (up to half the value of your fund) if you or your relatives live in a property while it belongs to your SMSF. 

But rest assured, it’s definitely possible to live in your SMSF property when you retire – as long as the property is first transferred to trustees and members of the fund. 

Remember, the sole purpose of an SMSF property is to benefit the fund’s members (or their dependents) during retirement. 

When can you retire?

In Australia, there’s no fixed retirement age. However, retirement is generally defined by your “preservation age”. This determines when you’re legally entitled to access your superannuation (based on when you were born). 

There’s a lot to consider when transferring your SMSF property, such as tax duty, stamp duty and Centrelink obligations.

An experienced accountant can help you to meet your legal obligations, while ensuring the transfer works out in your best interest. 

The Xperion accounting team has been helping retirees to manage their SMSF investments for decades, so we can make this easy and stress-free for you. Contact our team for a free no-obligation consultation.