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Buying property in your SMSF

With all the hype surrounding property, there are dangers of getting it wrong – especially solicitors who may not be versed in this topic and get the name wrong on contracts (can have implications for double stamp duty).

Beware of Buying Property in your SMSF – check the contract – if it has inclusions such as carpets, garden shed, home theatre equipment, solar power arrays – then is the SMSF acquiring a single acquirable asset? A bit technical but it can only borrow to buy a single acquirable asset. Contact this office if you are unsure and we can put in touch with suitably qualified legal experts.