Hi
I have been reading material on the forum posted in regard to the purchasing residential property through a SMSF.
However I have a couple of specific questions that I was hoping to obtain anwers for.
I appreciate that the laws surrounding the purchase of a property through a SMSF is limited by the provisions that the purchase must be from a "unrelated party".
However is anyone able to provide me with a definition of an unrelated party as I havent been able to locate one ?
Example would a SMSF purchase be allowed from for example:
1. uncle or aunty
2. grandmother or grandfather
3. family friend
Also if a property which was to be purchased through the SMSF wouldnt require any borrowings from a bank (ie. the SMSF would have enough funds to purchase the property outright)
What structure if any would be required or would it be as simple as having the title in the name of the SMSF.
Look forward to any advice that anyone has to offer.
Cheers
I have been reading material on the forum posted in regard to the purchasing residential property through a SMSF.
However I have a couple of specific questions that I was hoping to obtain anwers for.
I appreciate that the laws surrounding the purchase of a property through a SMSF is limited by the provisions that the purchase must be from a "unrelated party".
However is anyone able to provide me with a definition of an unrelated party as I havent been able to locate one ?
Example would a SMSF purchase be allowed from for example:
1. uncle or aunty
2. grandmother or grandfather
3. family friend
Also if a property which was to be purchased through the SMSF wouldnt require any borrowings from a bank (ie. the SMSF would have enough funds to purchase the property outright)
What structure if any would be required or would it be as simple as having the title in the name of the SMSF.
Look forward to any advice that anyone has to offer.
Cheers