Required information and documents

The supporting documents information for SMSF specific advice lists the information and documents we usually need to resolve questions about the subjects listed.

Check whether the topic to send us all the supporting documents it requests. This will help to prevent delays caused by our having to ask you to provide the information later.

Supporting document requirements for SMSF specific advice

This information lists the documents and information we usually need to process self-managed superannuation fund (SMSF) specific advice about:

• the acquisition of an asset
• business real property
• in-house assets.

We cannot usually provide SMSF specific advice about future years or transactions unless you have a high degree of certainty about how you will conduct your activities.

Acquisition of an asset

If you want us to determine whether the acquisition of an asset by your SMSF is prohibited by the Superannuation Industry (Supervision) Act 1993 (SISA) or whether it meets one of the exceptions, provide us with:

• documents that show the current or previous (depending on whether the acquisition has occurred already) legal ownership of the asset
• details describing the relationship between the party who owns (or owned) the asset and your SMSF
• documents or details about the asset acquired or to be acquired, in particular whether you believe the asset is
  • listed shares
  • business real property
  • an asset described within subsection 66(2A) of the SISA 
   
• details or documents that outline how the acquisition/transaction would occur or has occurred, including the value of the asset and how the value of the asset was arrived at.

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Business real property

If you want us to determine whether property meets the definition of 'business real property' for the purposes of the SISA, provide us with:

• details describing the relationship between the party who owns (or owned) the property, or lease, to be acquired and your SMSF or members of your SMSF
• documents detailing the legal ownership of the interest in the real property and the form of that ownership (such as lease or freehold)
• details or documents that outline how the transactions would occur, or have occurred, including the market value of the asset and how that value was arrived at
• documents explaining or a detailed description of business activities that occur on the property or in a location of which the property is a part
• details of any private or non-business use on the property, including the degree of non-business use, purpose and frequency.

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In-house assets

If you want us to determine whether an investment, loan or lease (whether proposed or not) would meet the definition of an 'in-house asset' for the purposes of the SISA (and whether or not a contravention of the in-house assets rules has occurred), provide us with:

• details or documents outlining the specific transaction – this may include investment, loan and lease documents
• details describing the relationship between all parties and your SMSF for the investment, loan or lease arrangement
• details or documents that outline how the transactions would occur, or have occurred, including the market value of the investment, loan or lease and how that value was arrived at
• the total value of your SMSF's assets in the year of income that the transaction has or would occur.

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Send the relevant documents and information with your request for self-managed superannuation fund specific advice form.

For more information about:

• the acquisition of assets, refer to SMSFR 2008/D2
• business real property, refer to SMSFR 2009/1
• in-house assets, refer to SMSFR 2009/4

What to include in your SMSF specific advice application

The information and supporting documentation required in a SMSF specific advice application are:

• your contact details
• the full name of the SMSF that the SMSF specific advice is for
• the questions that you want answered
• the facts describing the scheme or transaction (including everything listed in the supporting documents information)
• research and analysis of the technical issues (optional)
• details of any previous SMSF specific advice you have received on the issue
• a checklist to help us to determine whether your application is valid
• your declaration and signature.