Until the fund goes into pension phase ie when you reach retirement age/commence a trp – but I’m no expert on super. You may be up for cgt & sd on transfer to your fund (maybe a one-off transfer to smsf).

You're not going to get much in Sydney for $140k and with a guaranteed tenant for 3 years you'll be able to knock that mortgage into shape pretty quickly depending upon your borrowings. As the rent should be covering your interest costs, it shouldn't put too much of a strain on finances or slow your borrowing capacity down very much at all.

a) You are obliged to have a documented lease and have any bond lodged with the rental bond board (so the State Govt knows that you are renting out the property). This has implications for the OSR with regards to Land Tax.
b) Real estate agencies provide you with a monthly statement of income/expenditure, what you do with it is your concern. REAs also submit their Activity Statements to the ATO, if they get audited, then all of their transactions are visible, REAs also lodge all of their bonds.

Nothing stopping you from leasing your property to your wife however scratch the surface and you come unstuck: "have you separated?", if so, is the property leased at market rent? Why/Why not?; Do you have a lease in place? Why/Why Not?; If your home is no longer your wife's PPOR, she may be liable for land tax on her portion of the property and the list goes on.

if you want to check your returns, you should benchmark by measuring net returns (excluding tax, interest etc ie ebitda) against other investments that you held over that same time eg: superannuation account, bank deposits, shares etc.

If you don’t use ebitda, you don’t have a consistent standard to measure your returns.

Congratulations Beside. Glad to hear that it has been resolved with all parties happy with the outcome. Just remember to put aside some of the windfall for your cgt bill when it falls due. This should be calculated on your payout less any ‘compensation’ paid.

Just thought that they might come in handy up there.

I'd throw a plug in for money choice who are also melbourne based. http://www.moneychoice.com

Jamie, you're not thinking of using them up in Brisbane/Ipswich are you? 

How much is the life of one of your tenant’s kids worth?

This generally applies to people seeking to acquire a property within their own SMSF not in an industry or retail fund. Generally, money in super must stay within super until you reach an appropriate age.