Short answer is “Yes”, you can.
Off market transfers will continue to be considered legitimate according to a recent announcement by the Coalition government. The Government had previously announced that off-market transfers of listed securities between SMSFs and related parties would be banned from 1 July 2013. This is seen as a major win for the SMSF industry.
Further, an independent qualified valuation will not be required when acquiring business real property from a related party or for the disposal of real property to a related party.
It’s fair to say that trustees will receive greater scrutiny of related party transactions.
Ivan Filipovic – Director Redwood Advisory- SMSF Specialists.
The content has been prepared without taking account of the objectives, financial situation or needs of a particular individual and does not constitute financial product advice.