using SMSF to buy from yourself

can i use my smsf to buy from myself which saves me the hassle of setting up another perth mint account?

 

Nope. Can't by from anybody related to you too.

 

I'm pretty sure that is specifically identified in the legislative list of "forbidden" transactions.

 

what about a safe iv purchased ? is there no way for my fund to take ownership ?. thanks

 

arms length transactions only

 

If your the trustee or trustee's representative,i can't see why not.
The purchase receipt would show no monetary advantage was gained from a reimbursement
The sole purpose of the safe was to house the assets of the fund and the sole purpose of the purchase of the safe was to house the funds assets,seems to comply.

REDBACK

 

thanks , something i should of thought about , thought id be prepared early for smsf so as soon as its set up i can buy .

stinky