yes. you will need to use commercial terms, conditions and rates. The Tax Office has published recommended interest rates and loan terms, known as "safe harbor" terms.
no. the bare trust doesn't actually do anything like that. The bare trust is just a document that allows the bank to lend money to the SMSF. everything goes through the bank account of the SMSF. derek
Could my smsf borrow money from a trust which im a director of? paying market rates etc
yes. you will need to use commercial terms, conditions and rates.
The Tax Office has published recommended interest rates and loan terms, known as "safe harbor" terms.
Hi I am loving your videos. You explain it easily and make it seem easy. Can / Do i set up a bank account for the bares trust Pty co, Regards
no. the bare trust doesn't actually do anything like that. The bare trust is just a document that allows the bank to lend money to the SMSF. everything goes through the bank account of the SMSF. derek