Terryw replied to the topic Had a conversation with my tax accountant about Melbourne property in the forum Help Needed! 58 minutes ago
Steven, Can’t you see the obvious here?
This is something you need specific legal advice on.
A unit trust may be a good structure, but the trustees could also just buy as tenants in common – should always be a company trustee for SMSF I think.
Also consider having the SMSF borrow to acquire the property as once it is purchased it cannot be leveraged or mortgaged in the future.
Terryw replied to the topic Major capital improvement, new cost base and CGT calculation? in the forum Legal & Accounting 1 week, 6 days ago
You can just look at the law itself. It is pretty clear.
See s110-25 ITAA97
Look at the 4th element
no mention of the word “major”
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