All Topics / Legal & Accounting / Buying Commercial Property including Residential Unit

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  • Profile photo of m.leiminerm.leiminer
    Participant
    @m-leiminer
    Join Date: 2020
    Post Count: 0
    December 4, 2020 - 1:33 pm

    Hi,

    I am totally new to SMSF and have a question about whether there is any way I can reside in a unit that is part of a commercial property of professional offices that is bought in an SMSF.

    I was hoping there was a way. Perhaps a valuer could do a separate valuation for each? Or would it need to be strata titled which I’m not too keen on doing.

    Thanks for any input.

    michele

     

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 5, 2020 - 7:51 pm

    not if you are a beneficiary of that SMSF

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of m.leiminerm.leiminer
    Participant
    @m-leiminer
    Join Date: 2020
    Post Count: 0
    December 6, 2020 - 1:10 pm

    Thanks Terry.

    Could an option be for the SMSF to develop it to an approved dwelling unit, strata title and then sell back to me as a trustee?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 7, 2020 - 1:34 pm

    A member of a superfund could potentially buy off the trustee – but seek legal advice as many issues.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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