We bought a corner house and land in our smsf originally planning to knock down and put a duplex up, then they changed the rules way back and you can’t change the usage so that was out. But can you add a Granny Flat to the backyard? Does that change the usage as we already have 2 street access. Anyone got any experience with this or any opinions. thanks
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My guess would be that it won’t change the usage but if I were you, I would discuss with my accountant? 👍😎
Ethan Timor | Aligned Finance Pty Ltd
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I would say even better than sitting with accountant,
go to town planning/call
organise an informal meeting and get a scope of work
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This is covered in one of the tax rulings. I can’t recall the answer specifically but I think it may be possible as long as it doesn’t create a new asset.
Best to speak to council or a town planner first to see if possible generally and then to seek specific legal advice on whether it would be a breach of the sis act. A lawyer can give this advice but do can a licensed planner or accountant that is licensed.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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