An SMSF pays off the loan for the property held in the bare trust and enages a lawyer to transfer the title to the trustee of the SMSF.
Should this legal expense be capitalised?
Any advice will be appreciated.
An SMSF pays off the loan for the property held in the bare trust and enages a lawyer to transfer the title to the trustee of the SMSF.
Should this legal expense be capitalised?
Ths is a useful guide:
I think that it could be argued that the property is already beneficially owned by the SMSF, therefore there is no structural change.
https://www.dbalawyers.com.au/announcements/unwinding-smsf-limited-recourse-borrowing-arrangement/
An SMSF pays off the loan for the property held in the bare trust and enages a lawyer to transfer the title to the trustee of the SMSF.
Should this legal expense be capitalised?
Ths is a useful guide:
I think that it could be argued that the property is already beneficially owned by the SMSF, therefore there is no structural change.
https://www.dbalawyers.com.au/announcements/unwinding-smsf-limited-recourse-borrowing-arrangement/
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