Q: Is it possible to use a self-managed superannuation fund (SMSF) to invest in vacant rural land with the intention of establishing an Airbnb business on that land? We are 49 and 50 and the business would involve a hobby farm environment with unique Mongolian yurts to rent out as farm stays. Could we live on this land as caretakers in order to run the business? We have another business that offers opportunities for kids with special needs to learn cooking and experience rural life. Our SMSF has been around for less than a year but with money rolled over from other funds. Our intention is to pay any employer super into it and add to it as we can. We envisage the SMSF paying for the infrastructure like the land, buildings and a bore for water. Helen

A: While in principle it is possible for an SMSF to invest in rural land and establish a holiday let via an Airbnb arrangement, says Jeff Song, a superannuation solicitor with Townsends Business and Corporate Lawyers, in practice it's a lot more complicated.