Can a SMSF own my home, rent it back to me, and I can claim it as a deduction?

No. Properties in an SMSF can’t be used by family, that potential loophole is closed.
It can be used as a business premises and rented back. e.g. you buy a building suitable suitable for running your factory with your super fund. Your business rents it from the super fund (all at market rates).

(Based on my understanding from years of listening to podcasts but no qualifications in the field).

Setting up a Self-Managed Super Fund (SMSF) to own your principal place of residence (PPOR) and then renting it from your SMSF is a topic that often comes up in discussions about innovative retirement planning. However, under current Australian superannuation law, this arrangement is generally not permissible.

SMSFs are subject to strict rules set by the Australian Taxation Office (ATO) and the Superannuation Industry (Supervision) Act 1993 (SIS Act). One of the key rules is that SMSFs are prohibited from acquiring assets from related parties of the fund, except in very specific circumstances. A related party includes fund members and their associates, which would typically cover the members’ family. Furthermore, the SIS Act prohibits SMSFs from leasing residential property to a fund member or their related parties, which includes the members themselves.

Regarding the deductibility of expenses like strata fees, if an SMSF owns a property that is used to generate rental income (not being rented to a related party), typical property-related expenses such as strata fees, maintenance, and property management fees can be deductible to the SMSF. However, this does not apply if the property is used by a fund member or related party as a PPOR.

For those interested in learning more about the rules and regulations governing SMSFs, particularly in relation to property investments, the ATO website is a reliable resource. It provides comprehensive guidelines and examples that can help clarify what is permissible within an SMSF. Additionally, consulting with a financial advisor who specializes in SMSFs can provide tailored information and help navigate the complex regulations.

For Pearler users, understanding these aspects of SMSFs can be crucial, especially if you are considering using your investment platform to manage or integrate your superannuation investments. Pearler focuses on providing tools and resources that help investors make informed decisions, and understanding the legal frame

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I would definitely get specific tax advice on this as I’m not sure either.

It might technically be possible, but it sounds pretty questionable over whether the ATO would be happy with this, so I’d be skeptical until I got it confirmed by more than one tax expert.