Eleven,

To answer your questions:

1. The ATO have come out and determined that personal guarantees are in deed in breach of the legislation and can no longer be requested in relation to Property Gearing Products.

2.There is a school of thought that in line with equity warrants that the transfer back to the SMSF does not create a CGT event.  The ATO recently decided is had had enough of this exception being used (initially established for the telstra and CBA floats) and is reviewing the situation.  They estimate it will be at least 6-9 months (May be longer if new legislation is required) before they have an answer but I would suggest it will not favour the tax payer.  As for Stamp Duty in most states this type of transfer is excempt as the ultimate beneficiaries have not chnaged.

3. The transfer into the superannuation fudn is not a contribution but considered a purchase of an asset by the SMSF by using another asset the proeprty warrant.

Please note the government is currently reviewing the change in legislation that allows proeprty warrants and it may be repealed  or limited in some way.  If you are looking for a product that does all this for you and does not rely on the recent legal changes look at the Sovereign-Lasseter Geared Asset Select trust.  It does what warrants do and is much cheaper and has no defined period and is run as a managed investment scheme so has more checks and balances for the investor.  (Please note I designed this product so I have a vested interest) Go to  http://www.lasseter.com.au

Regards 

Michael