Is this possible?
We have a property that we would ideally like to move into our SMSF and have a few questions for those with expertise in the area.
1. While I understand that you can't transfer or sell property that you own in your own name directly to a SMSF but could you legally sell the property to your parents then buy it off them in the SMSF? Obviously, I am aware that this will incur 2 sets of SD but feel that if this is a possibility it might be worth paying.
2. The property is under 50 sqm and is currently unemcumbered due to this reason. Would this present a problem for the loan we get for the SMSF?
3. Are there any other implications that people can think of with this strategy?
We have a property that we would ideally like to move into our SMSF and have a few questions for those with expertise in the area.
1. While I understand that you can't transfer or sell property that you own in your own name directly to a SMSF but could you legally sell the property to your parents then buy it off them in the SMSF? Obviously, I am aware that this will incur 2 sets of SD but feel that if this is a possibility it might be worth paying.
2. The property is under 50 sqm and is currently unemcumbered due to this reason. Would this present a problem for the loan we get for the SMSF?
3. Are there any other implications that people can think of with this strategy?