Can I sell my SMSF properties to myself?
You or your relatives can buy residential or commercial properties owned by your SMSF.
If this is the case, you need to follow the following guidelines:
- obtain an independent valuation for the property
- engagement a conveyancer/solicitor who is experienced in SMSF property transactions
- stamp duty may apply and different states/territories have different rules and you need to consult with the conveyancer/solicitor
- make sure you do not use the properties at all for private purposes before the title properly transferred
- keep all the contracts, documents and invoices and forward them to us
- if your SMSF has existing mortgages, we will help you wind up the bare trust
SMSF properties can be sold to the related parties but you need to make sure all the transactions are completed on an arm’s length basis.
Any questions? please feel free to contact us.