Smsf query

Discussion in 'Superannuation, SMSF & Personal Insurance' started by becca, 17th Jun, 2013.

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  1. becca

    becca New Member

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    1st Jul, 2015
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    Location:
    Traralgon vic
    Hi im just wondering if my husband and i roll over our super into a smsf and use it to purchase a residential property can we set up a family trust that then rents it or do we have to rent it out to others ?
     
    becca, 17th Jun, 2013
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Family trust would be a related party = no.
     
    Terry_w, 17th Jun, 2013
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  3. AnthonyK

    AnthonyK Active Member

    Joined:
    12th Jul, 2018
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    Location:
    NSW
    To do this legally Becca you would need a pre 1999 SMSF+Fixed Unit Trust structure.
    Go and search for ATO ID 2002/388 its a public Ruling from 2002 and its still in force.
    I have been working with these structures since 1992 and set up thousands from 1992 - 2000. The ATO lost the tax case Forli V FCT in April 1991 and they were legislated out in Dec1999 when Costello changed the law. But they do occasionally come on the market when people are retiring these days and can be successfully transferred if you know how to deal with them.
    Regards To Becca and All
    AK
     
    AnthonyK, 2nd May, 2017
    #3