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What document should be used if a SMSF member wants to loan money to the SMSF to put down deposit on commercial property?
Reason: Funds have been unable to be rolled over into the new SMSF bank account.
You can do the LRBA related party loan pack. Then, on settlement, terminate the loan as the monies are repaid from bank loans or super fund money.
Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024