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Apr 18, 2022

Member transferring property to SMSF

in SMSF Technical Forum

Situation

One of the member of the SMSF want to transfer a business real property to the SMSF.

I know that the SMSF is allowed to buy a commercial property from its members.

My question is regarding the market value.

What are the documents an auditor should consider to make sure that the deal is done as per the market value? How to make sure that the property is a commercial property?