SMSFs and Business Real Property

The Tax Office has released a Draft SMSF Ruling in which it explains the term ‘business real property’.

Generally, an SMSF is subject to various investment restrictions unless an exception exists. One of the exceptions relates to business real property.

This Draft SMSF Ruling states that an SMSF must consider the interest in the real property and apply a business use test before the exception can apply.

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