SMSFs investing in the DomaCom Fund
DomaCom is pleased to advise that the ATO has issued an opinion on the DomaCom Fund in relation to SMSFs that says in essence that they are comfortable that:
- An SMSF investment in a property acquired by a DomaCom sub-fund would not contravene the SIS Act, provided the SMSF and the related parties of the SMSF acquired less than 50% of the units in the sub-fund in a public bookbuild, and
- The property must not have been acquired from a related party.
For the accounting and financial planning community, the ATO opinion for the DomaCom Fund will provide a valuable additional tool to engage their clients with functional investment opportunities in a market that is engaging all generations.
Please read the ATO opinion in full as it also contains details of the circumstances where an SMSF investor will need to seek independent professional advice or seek specific advice from the ATO about how the superannuation regulatory rules apply to their individual circumstance.