Hello,
An accountant client of mine has asked a question regarding an SMSF that is looking to purchase an additional 1/3 share of a farm using a LRBA, where the SMSF already owns 1/3 outright. I cannot think of any restrictions by SIS for the fund to own multiple shares of the farm (one in fund name and the other in the bare trustee name), but as I have not seen this arrangement before, would like to ensure that there are no SISA restrictions relating to s67 in particular. Thank you for your help.
Is the property currently held in a structure ? i.e. Company or Unit Trust