Can I put my super into a SMSF and keep the liquidity in an offset account for my mortgage?

 Author: itspetedee(Newbie)Newbie

15 Oct 2023

I am in my mid-40s and currently have almost $200k in super.

I have a mortgage with around $300k left at 5.8%.

Over the past 5 years, my super fund has not increased any more than the deposits my employer makes to it.

I am wondering whether I can start a self-managed super fund and put the money on my mortgage offset account to reduce the interest I am paying. My initial calculations say that I will save a significant amount of interest and reduce my loan term.

I understand there are setup costs and administration etc, but just wondering if this is something I can feasibly do?

Thanks

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