Recent legislation changes mean you can now diversify your Self Managed Super Fund (SMSF) portfolio and buy property. The Superannuation Industry Supervision Act (SIS Act) was amended in 2007 to allow SMSF’s to buy property with their SMSF. More Australians are discovering the power of using their SMSF to diversify their portfolio to gain leverage, tax advantages and other benefits. Some advantages of using a SMSF are greater investment choice, control over investment strategies, invest in direct residential and commercial property, access to investment gearing opportunities, better manage fees and costs, can be used for efficient estate planning, ability to own your business’ real property (but not operating assets) in the superannuation fund, maximum 10% capital gains tax is payable on any capital gain if the property is sold after a minimum of 12 months and no capital gains tax is payable if sold during pension phase, maximum 15% income tax on rental income