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Thanks Terry & Scott

http://law.ato.gov.au/atolaw/view.htm?Docid=SFR/SMSFR20121/NAT/ATO/00001 Table 2: whether it is a different asset A 'granny flat' is to be constructed in the backyard of a property which already has a four bedroom residence established on it. The character of the asset would remain...

@You won't own the property though I smell the rats here.

Hate these so called REGULATIONS. "limited recourse borrowing arrangement" is one time on first purchase. We both are going to fund the granny half-half from personal savings. Isn't that a granny is council level project? Shouldn't be a problem when its going to increase the rental return.

FYI local Bankwest manager is ready to fund the case. He said no problem provided all the arrangements are legal. They seem to be 'loan hungry' to get back the interest from our blood & sweat currency in return for few computer digits. LOL.

Thanks guys. Plan is to buy a house with land & owner-build a granny on back later for more return. That way we both keep half house. He lives in one half & i rent the other half. We both can fund granny outside "limited recourse borrowing arrangement" from savings. @knightm & Terry- this...

FHB gets no grant on old properties.

Thanks Terry. I mean to say that 50% will be my smsf BUT 50% will be first home buyer deposit (not super fund). Can this FHB live in the house?

Recently, I came to know that I can pool my SMSF with a friend to buy a property. I have around 60k in super & my friend don't own any house atm. I understand that I can't use this house as a security & can't live in it but: - Can we buy a house as 50:50 co-ownership between SMSF:FHB? - Is it...