I have recently got my SMSF setup. It is compliant. As advised by my accountant and also finance advisor, I am now setting up bare trust to buy a property.
My question is regarding land tax. I am aware that there is no land tax threshold on family trust in NSW but I am asking specifically for SMSF property. NSW Revenue site says - https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/land-tax/understanding-land-tax/types-of-landowners/trusts#heading7
Superannuation trusts
A superannuation trust receives the land tax threshold.
A superannuation trust can be:
- a complying superannuation fund
- a complying approved deposit fund, or
- a pooled superannuation trust under sections 42, 43 and 44 of the Superannuation Industry (Supervision) Act 1993.
If a superannuation trust is not a complying or pooled trust, it is a special trust and will not receive the benefit of the land tax threshold.
However I am not receiving a definite answer from my accountant. Hence asking the question here. Please advise.
Thank you
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