Aussiegolfa Pty Ltd (Trustee) v CofT – SMSF invested in single property ‘sub-fund’ – leasing property to daughter of SMSF member did not breach the ‘sole purpose test’ but units in the sub-fund were ‘in-house assets’
The Full Federal Court has ruled that a Self Managed Superannuation Fund’s (SMSF‘s) investment in a property trust, which was set up so as to perform, in line with a nominated single property: did not breach the sole purpose test under s 62 of the SIS Act (despite the property being leased to the daughter of the…