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Can an SMSF with your deed purchase business real property from its members or their associates?

The deed does not specifically state that the trust can purchase business real property from its members or their associates, but that should be fine under the deed.

Clause 11.2 provides the trustee with wide powers to invest the fund’s assets, subject to complying with superannuation laws. In this regard, the SIS Act specifically allows SMSFs to acquire business real property from related parties at market value (refer S.66(2)(b)).

You should note, however, that clause 11.4 requires that the trustee and any director of the trustee disclose any interest in any investment in the manner prescribed by the Corporations Act and superannuation law whenever they have a direct or indirect interest in the investment or may benefit directly or indirectly from the investment.