Hey ASF Members,
What about this flooding huh? I live in Burpengary north of Brisbane and the flooding is BAD....I have been trapped on my land the last 2 days - luckily we have acreage and the house is on a high point.
Anyway, I had a very straightforward question in regards to Self Managed Super Funds.
If I open a trading account in my SMSF's name, if I profit past my minimum point of annual contributions can I withdraw on some of these profits? I'm 22 years of age so obviously it would be well in advance of retirement.
If not, is there any way of withdrawing profits from a SMSF? Or is it completely not possible?
I hope anyone else on here who is from Queensland is safe!
Much appreciated folks.