You want to buy a property that is currently owned by your SMSF?
I don't think there are any restrictions on a SMSF selling property to a member as long as it is done at market value. CGT would apply, but there could be stamp duty exemptions depending on a few things.
Depends on your question....I believe you are asking "Can your SMSF legally buy an IP I already own".
The answer is likely to be no.
s66 of the Superannuation Industry (Supervision) Act 1993 prevents a fund from acquiring any investment from a member, relative or associate unless it is otherwise permitted. There is an exception for listed shares at market value and units in a unit trust that is not geared subject to a load of stringent rules (SISReg 13.22C)
If you can switch the loan security to say your own home this may work BUT its would need advice. Its a complex area of super law. The SMSF cant use a limited recourse loan if you were thinking that. Its a prohibited acquisition.
s66 does allow business real property. However if its a residential investment property you cannot do this. No matter what. Its a silly rule at times but it has a purpose.
There is also an avoidance rule if you try to do this in other ways.
However if a unrelated person's SMSF wants to buy your IP there is no concern.
A question many people ask, you cannot purchase residential property of a member or RP, unless it satisfies the definition of Business Real Property, this is not just limited to commercial property, there are some strategies that can be utilised including if the residential property is part of a development where you are the developer. SMSFR 2009/1 is the reference point.