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SMSF practitioners should exercise caution with strategies involving transferring life estate interests to an SMSF with the ATO looking at them “in every possible detail”, according to one industry lawyer.
DBA Lawyers director Daniel Butler noted the steadily increasing publicity around SMSF members transferring life estate in business real property (BRP) by way of in kind or in specie contributions to SMSFs is potentially problematic for those who don’t understand the risks they are entering into.
Read the full story at SMSF Adviser.