Firewater. Very easy, but cumbersome. Work out how you are going to do it – gift, market value, undermarket value etc and then just fill in the relevant paperwork such as a transfer document from your names to the names of the trustee.

Apply for a new loan, pay stamp duty and then complete the settlement.

If it was your main residence before then maybe exempt from CGT. Full stamp duty would normally apply.

But, why are you wanting to do this? Asset protection is not great, you will be up for CGT from the transfer date and you may have to pay land tax on something that otherwise wouldn’t be taxed.

No because of the above section I quoted which specificially says a jointly owned asset is not classed as an in house asset.

JacM – any authority to back this up?

I don’t know of any restriction in a SMSF buying property jointly with a related party.

Wilko, a trustee of a SMSF cannot borrow money, s67. But s67A allows a trustee to borrow money (wtf?) by introducing an exception. This is to acquire a single acquireable asset.

(incidently you know when legislation has been amended when the numbering jumps out of sync and letters have been inserted such as s67 then s67A s67B etc?

So with your LOC how are you going to get than into the SMSF? Loan or contribution?

If there was no loan then sub-division would be possible I think.

Another possibility is a JV with a SMSF. Buying Tenants in Common 50/50 with a SMSF

Yes, lawyers can take interstate clients. I wouldn't do conveyancing interstate though as the proceedures vary from state to state.

Yes, really there is no need to document the trust at all. But it may be a good idea to put XX ATF YYY.

I've been approached by a forum member to fix a trust he set up incorrectly. Property already purchased so it would take around $5k in legal fees to fix this particular problem with all the loans being redone. Past tax mistakes unable to be fixed.

A trust could be set up within a hour, but you really need time to seek legal advice (from a lawyer!!!) and to digest this advice. ie you should ideally stew things over for a while. Corporate trustee/individual, strucutre of the trustee company, structure of the trust, type of trust, succession plan for trust, trustee duties, trustee powers, asset protection enhancements, how to use the trust, how to get money into the trust etc all need to be considered. You should also consider the tax side of things too.

Yes, all lenders that lend to trusts. As long as the trustee or director of the trustee is clean. This is for discretionary trusts. Unit trusts may be a bit harder, but can also be done.

Be prepared for a low valuation for new off the plan type propertie.

This is unusual. Is it near Manly in Sydney?

How many years on the lease left?