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the terms of the trust will need to be in writing before the contract is entered into or you will face protential problems of stamp duty. you also need legal advice on stamp dut when the loa. is eventually paid off and the property transferred from the bare trustee to the smsf trustee as if...

YOu seriously need help to set this up if you dont know that. To get a loan a smsf cannot hold the property directly but must establish a separate bare trust to hold the property.

Based on what you have described above you would be breaching the SIS Act. You have better seek legal advice in setting up the structure. You will also need a custodian trustee too.