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  1. May M

    May M New Member

    Joined:
    7th Aug, 2014
    Posts:
    1
    Location:
    Launceston Tas
    Hi everyone,
    wanted to know, if a SMSF can buy a block of land which is on two title ie 72 acres in total by spending 3/4 of the available fund ie no burrowing.
    We want to use this land for cattle , can we lease it to ourselves and are we able to build a house on one title with our money and live next to the farm
    many thanks
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    Yes this may be possible. You need to seek financial and legal advice about this/
     
  3. Corey Batt

    Corey Batt Member

    Joined:
    12th Apr, 2016
    Posts:
    12
    Location:
    Adelaide, SA
    Be careful with properties with multiple titles and the like within SMSF, there are specific rules which determine that SMSF property purchases cannot have the ability to be divided/developed - so there have been cases of funds being caught out for having properties which have the potential (even if not actioned).

    You will not be able to build a property on the land and then use it as your residence, there are specific rules on this. Get specific financial advice on this!
     
  4. redwood

    redwood Member

    Joined:
    9th Nov, 2013
    Posts:
    14
    Location:
    Melbourne
    If you are buying with cash no issues with titles or single acquirable asset. You can do as you please.....pretty simple actually

    Cheers Ivan