#10377
Awan Hammad
Participant

    Hi Monica

     

    My view is that you do not need the off market transfer forms.

    Assuming it is an asset that can be acquired from a related party you need to ensure it has been acquired at market value and has been transferred to the ownership of the Fund.

    I would request a copy of the minutes that refer to the details of the transfer of assets, the market value of the assets & the details of the type of contribution that is being made.

    The contributions would be accounted for as follows:

    Dr Investment (at market value)

    Cr Contribution

    If any other members have a view please let the forum know.

    Thanks

    SMSF AAA

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