+ Reply to Thread
Results 1 to 5 of 5
  1. #1
    Join Date
    Feb 2014
    Posts
    3,284
    Thanks
    328
    Thanked
    993
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    Default Self managed super funds- purchasing property

    Can any accountants help?

    Before we pay an advisor ( incase we pay and they say can't happen and we waste $$) can someone help regarding if this is an option.

    Long story short smsf rules stipulate you can't purchase property off a relative, but does this count if the property is owned by a trust and you purchase from the trust? ( with the trust owner being a parent)
    My fathers site is able to be developed and I'm investigating if we can use super ( via setting up self managed superfund) to buy one of the townhouses.
    Also what's the rules with selling later on if we had to.
    Do all profits need to go back in ( ie we purchase for 200k off plan then sell for $400k what happens to the 200k profit)

  2. #2
    Join Date
    Jan 2013
    Posts
    57
    Thanks
    78
    Thanked
    21
    Reviews
    4
    I'm not aware of a rule prohibiting the purchase of property from a related party, as long as it has been purchased for arms-length consideration. The property currently being held within a trust would be irrelevant.

    All profits would need to stay within your SMSF until a condition of release (eg retirement) is met.

  3. #3
    Join Date
    Feb 2014
    Posts
    3,284
    Thanks
    328
    Thanked
    993
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    https://www.moneysmart.gov.au/supera...s-and-property

    2nd dot point:
    "Must not be acquired from a related party of a member"

  4. #4
    Join Date
    Jul 2015
    Posts
    7,052
    Thanks
    4,834
    Thanked
    4,299
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    I always thought as long as it was arms length/commercial footing it would be ok. smsf is not my area of specialization though.

  5. #5
    Join Date
    Feb 2014
    Posts
    3,284
    Thanks
    328
    Thanked
    993
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    Default Self managed super funds- purchasing property

    Thanks for your help I'll look into that more.
    We just don't want to spend the $$ with our accountant if it's not even an option.


 

Similar Threads

  1. Private Health Funds that cover Postnatal Hotel Stay
    By beetee in forum Private Health Insurance Discussion
    Replies: 24
    Last Post: 08-01-2016, 09:25
  2. Doppler Hire/Purchasing
    By gamermummy in forum Maternity products
    Replies: 26
    Last Post: 26-07-2015, 15:50
  3. Does anyone know anything about pension funds
    By LoveLivesHere in forum General Chat
    Replies: 0
    Last Post: 05-02-2015, 19:06

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Maternity ClothesLooking to buy maternity clothes? :: Check the bubhub directory of local & online maternity clothes shops :: Find ...
FORUMS - chatting now ...
IVF/FET April & May chatConception & Fertility General Chat
IVF Babies due Sep/Oct/Nov 2017 #2pregnancy and babies through IVF
How long did it take you to conceive?Conception & Fertility General Chat
I am... #20General Chat
April/May TTC group chatConception & Fertility General Chat
REVIEWS
"Pigeon teats rule!"
by Alex
Pigeon PP Wide Neck reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›