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Hi PNS Seems like your've fallen into a situation that I see on a somewhat regular basis. Firstly you have gone to a bank that probably does not understand SMSF or spoken to someone that has no idea. You can buy off plan however you need to be able to follow the right steps However...

Hi Bespoke I've had a number of clients who have not been able to transfer their existing super into a SMSF for one reason or another however there other ways of achieving the same outcome although these may not suit everyones personal circumstances. One way to get funds into a SMSF is to...

Hi Bespoke In the Cooper Review into SMSF's they have said as a preliminary recommendation that they will review the 2007 relaxation of the borrowing provisions in two years time (ie 2012) to "ensure that borrowing has not become, and does not look like becoming, a significant focus of...

67 4A SIS Act Hi Thought that this might be of interest to those following the issues around borrowing within a SMSF. The law was actually changed yesterday in order to confirm a few things. Here is a summary I received: Key points are: The new rules DELETE the entire section 67...

I think you will find that the lender you spoke with has no idea about SMSF. The CBA SMSF product is anything but a simple residential loan, is very expensive and has many requirements including appointing them as security custodian and having a minimum of $300,000 net assets in the fund...

Bill Your correct in saying that the fund must pay a commercial interest rate however at the same time you as an individual can not benefit from the transaction. Accordingly you making a profit on the transaction would in my view be a big no as the SMSF would fail the sole purpose test ie...

There is nothing stopping a SMSF from buying a 50% (tenants in common) interest in an investment property irrespective of who owns the other half share. Also, and as has been mentioned before in this forum, you could also on lend your funds to the super fund so that it purchases 100% of the...

Hiya Bill Thanks for the kind words. As I'm not an insurance broker best check with your insurer......but your rationale does make sense.

Bill Your "Security Deed" needs to be stamped by the OSR for a number of reasons including evidencing the bare trust relationship. This is particularly important so as to not pay full stamp duty again when the property title is at some time in the future transfered back to your SMSF when the...

IMO in NSW if the bare/custodian trust holds the asset for the sole beneficial ownership of the SMSF then the arrangement would be assessed on the basis that it is a fixed trust for land tax purposes and therefore the ultimate property owner would receive the benefit of it's own threshold ie the...