James Wrigley

That's it.

So it wasn't high enough to just to kind of, you would never have been buying this property for a negative gearing benefit.

You would have been buying it for the leverage benefit.

I'm putting a small amount of money down and I'm borrowing and I'm buying this bigger asset and getting that leveraged exposure.

to hopefully some growth in the property.

But it would have never been the negative gearing.

Whereas outside of super, again, not that you should be doing things just purely for the tax deduction, but there was a lot more people that were buying property just for the negative gearing.

And hey, if I made some money along the way, then that was an added bonus.

I don't know that they're relatively better than ever.

I think over the last five to 10 years, certainly the last five, there has been a lot of advancement in the alternatives.

So you'd really got to look at why are you setting up a self-managed super fund.

Borrowing money to buy a residential investment property was a reason why some people were setting them up.

It's probably not the main reason.

It definitely wasn't.

From a financial advice perspective, we would be suggesting, we would be saying to more people, no, don't do it than we would do it.

That's for sure.

But there's a whole lot of reasons why you would potentially want a self-managed super fund.

Pulling money with your family, for example, buying some bigger assets together, maybe going into partnership with something else, some complex estate planning rules, just the flexibility.

So there's a whole lot of reasons why

you'd want a self-managed superannuation fund for the right person.