Awan Hammad

    Hi Lacey

    Yes based on what you have advised the Unit Trust would comply with the SIS reg. 13.22C requirements.

    In relation to the property being rented to a related party SIS reg. 13.22C(d) states:

    “(d) the company, or a trustee of the unit trust, is not a party to a lease, or lease arrangement, with another party in relation to an asset that is the subject of another lease or lease arrangement between any party and a related party of the superannuation fund (unless the asset is business real property)”.

    That is the property to be rented to a related party does not have to be a primary production property it just has to meet the definition of business real property that is property used wholly and exclusively in the running of a business. As the residential property is rented to an unrelated party this is not an issue.




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