Residential property transfer to SelfManaged Super

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From: Anonymous



Has anyone been successful at, or is presently attempting to have their SMSF purchase residential property from themselves, as trustees or members. It appears that the only way this can be done is if the properties can be shown to be "Business Real Property."
This is very straightforward with commercial property, but seems to have many pitfalls with residential property.
Does anyone want to share information on this topic?

Investa
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

Be very careful!

The fund must comply with a number of rules and investing in residential property might not satisfy those rules.

Furthermore, there is a law that forbids the trustee from buying assets from its members.

I would consider getting specialist advice.

Dale
 
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