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Re: SMSF property with a tenant in common - can other tenant rent the property?

Newbie

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If I purchased a property with my parents' SMSF as a tenant in common, could I live in and rent the property? I know related parties can't live in an SMSF property, just want to know if the situation differs if the related party is a tenant in common?

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Taxicorn Registered Tax Practitioner

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If I purchased a property with my parents' SMSF as a tenant in common, could I live in and rent the property?

 

No.

 

I know related parties can't live in an SMSF property, just want to know if the situation differs if the related party is a tenant in common?

 

No.  Tenant in common ownership fixes % ownership, but does not allow one owner to say that their share of the property is a particular area.

 

1 REPLY 1

Most helpful response

Taxicorn Registered Tax Practitioner

Replies 0

If I purchased a property with my parents' SMSF as a tenant in common, could I live in and rent the property?

 

No.

 

I know related parties can't live in an SMSF property, just want to know if the situation differs if the related party is a tenant in common?

 

No.  Tenant in common ownership fixes % ownership, but does not allow one owner to say that their share of the property is a particular area.