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Hi Vic You still seem to have missed my last point ......... In my view one of the biggest issues regarding the giving of a guarantee by SMSF members is section 295-550 of the tax act in that the giving of a guarantee could be seen to provide the SMSF with receiving special income and/or...

In generals terms the issues surrounding the giving of personal guarantees in support of an SMSF borrowing are seen by many as: o the guarantor may have an implied right of recourse against the SMSF and its other assets and this would be in breach of the SIS legislation o any payment made...

Hi Deejay In answer to your original question...what Stuart said is correct. Your loan will be a retail consumer loan.

Whilst St George were the only bank previously not requiring personal guarantees from SMSF members on all of their SMSF loan product offerings, their Business & Corporate Banking unit have this week amended their minimum security credit policy as follows. "Beneficiaries guarantee from all...