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Hi,
I have a client who has purchased a property (in QLD) under the bare trust name, however there is no loan on the purchase at all, they used SMSF monies to purchase the property.
Is this a problem?
Should it be transferred into the SMSF name
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Tara, I have just come across the same scenario. The only difference is it is a SA property. I am going to qualify the audit for in-house asset but say in the management letter - potential qualification.