Q:  My question is similar to one published recently. I’m looking at investing in vacant land through my self-managed super fund (SMSF) that I intend to eventually retire to with my wife. In the interim, I’d like to make use of the space by building a unique dwelling (a bus restored as a mini-house) and rent it on Airbnb, with any money made being put back into the super fund. If we intend to only visit the property for maintenance and upkeep, and all revenue earned from renting out the property is directed back into the super fund, is this allowed? My main concern is that I’d be making improvements to the property with my own money, and I’m not sure if that’s allowed in a SMSF situation. Realistically, I’d be happy to purchase the property and do nothing with it (allowing the value to increase over time and ensure I have a retirement block to go to when the time comes to stop working). But I figure if it’s feasible to make a few thousand dollars a year in rent and put it into my super, it’d be a better idea. Michael.

A: While it may seem like a novel idea to convert a bus into a mini-home on vacant land paid for by your super savings to secure a place to retire to, it is not exactly a simple exercise. This is because of superannuation rules you will need to keep in mind when considering such an enterprise, says accountant Brad Eppingstall, a director of RSM Australia in Ballarat.