'Evening All,
trying to follow up on query for friend regarding whether or not a person can subdivide and develop a resi prpty inside SMSF.
I've done a lot of searching in forum, ATO site & Google and only info I can find pertains to LRBA (borrowed funds) and the answer is "No".
What if the SMSF has enough cash in it such that there would be no borrowings from a bank......could the SMSF company buy a property, demolish & subdivide?
I am aware of the commentary regarding sole asset material change into multiple holdings etc, but once again I can only find commentary on this relating to LRBA.
Any help appreciated!!
Cheers,
Ian.
trying to follow up on query for friend regarding whether or not a person can subdivide and develop a resi prpty inside SMSF.
I've done a lot of searching in forum, ATO site & Google and only info I can find pertains to LRBA (borrowed funds) and the answer is "No".
What if the SMSF has enough cash in it such that there would be no borrowings from a bank......could the SMSF company buy a property, demolish & subdivide?
I am aware of the commentary regarding sole asset material change into multiple holdings etc, but once again I can only find commentary on this relating to LRBA.
Any help appreciated!!
Cheers,
Ian.