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Kath From my interpertation of the rules he can't do it. He can't legaly live there while the property is owned by the SMSF, however, nothing stops him from selling it to himself. But if he's going to have a mortgage on it, he should transfer it in his name before retirement because...

He could, but a SMSF is meant to provide for our retirement and there is not a lot of benefit in keeping a block of land which only produces mangos. However, this restriction is not of great benefit to the ATO so I'm suspecting that it could be eased later on if the retiree has other assets...

Kath Like others said, you cannot occupy a residential property. If a member of the SMSF occupies the property and the ATO finds out ;) the “in-house asset rule” is breached and there are penalties involved (loss of favourable tax rates and imprisoment come to mind :eek:). However, the...