Self-managed super fund lending turns 18

“With that flexibility, you’ve got your compliance needs; you need to make sure you meet the complying requirements of the fund. You need to lodge the annual returns,” he said. “If you do things wrong, the ATO can charge you administrative penalties. For example, if you get a borrowing [number] wrong in a self-managed super fund, the ATO can charge you 60 penalty units, which is, I think, $19,800. So it’s not all roses. You’ve got to make sure you have the time to invest and manage it properly.”