The fund is purchasing a property with finance and will borrow an additional $80,000 (separate loan) for 6 months from the borrower (AYZ Loans) to pay for the GST. The loan will be repaid within 6 months once the superfund lodges its BAS and receives a refund, is this okay
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Hi Signorina
If the LRBA requirements are being complied with then the Fund can have 2 separate loans. The GST is part of the purchase price of the property so there can be 2 separate loans to purchase a single asset under the LRBA rules.
Thanks
SMSF AAA