Dawood Hassan

    I am also auditing a similir SMSF, where a unit trust (non geared) with realted parties was setup to owns a land and a related party (construction company) is engaged to build a house on the land.

    The unit trust will be issuing more units as it requirs funds to pay for the construction.

    What sort of things, should I be looking for to ensure that the SMSF does not contravene s.62, 65, 67,82-85 and 109

    I have reviewed the link that you have mentioned in reply above, could you please shed further lights on the point you made as follow;

    “as a positive it appears they have set up the process correctly re the bank account and the purchase of materials (to avoid acquisition of assets from related party issues)”.


    Dawood Hassan


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