using SMSF to buy from yourself

W

Wout

New Member
can i use my smsf to buy from myself which saves me the hassle of setting up another perth mint account?
 
stinkypete said:
what about a safe iv purchased ? is there no way for my fund to take ownership ?. thanks
Click to expand...

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
 
Redback said:
stinkypete said:
what about a safe iv purchased ? is there no way for my fund to take ownership ?. thanks
Click to expand...

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
Click to expand...

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
 
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