Question: Is this a good arrangement?
I have asked an accountant to set up an smsf that would allow me "To invest in anything" (from IP to ostrich & shares) and "To borrow from anyone" (this is for IP warrants).
My understanding is, the smsf will be in form of a trust with a trust deed that specifically allow the free choice of any investing and/or borrowing form.
The accountant said that was not the way it worked. What I needed was a bare trust. (BTW, he only does bare trust and nothing else).
1. What does it mean by a bare trust?
2. Would a bare trust do the job of IP warrants?
3. What kind of trustee do I need? (individual, company...)
4. How does the mechanic of an IP bought with warrants happen?
(eg. The property is put under a new trust between bank and smsf? etc.)
Just make sure your deed doesn't put you into the CGT trap that many have.