#9537
Awan Hammad
Participant

    Hi Lacey

    Re the sale / transfer of property from a SMSF to a related party yes to ensure compliance with section 109 of SIS yes you would want the trustees to get an independent market valuation for the property.

    Re the portion re cash versus lump sum I would raise this with the lawyer that is doing the convayencing. This is because in some states in Australia stamp duty on transfer of a property can be avoided if there is no consideration (i.e. in specie) & there is no change in beneficial ownership.

    Yes there should be paperwork to support what part of the transfer is in cash & what part is in specie.

    Thanks

    SMSF AAA

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