News and Announcements
ATO Opinion Clears the Way For the DomaCom Fund
- Published October 04, 2016 1:34PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
29th September 2016, Professional Planner
An important opinion from the Australian Taxation Office (ATO) paves the way for SMSF trustees and members to invest in family property via the fractional property investment fund DomaCom.
The ATO has stated an investment by an SMSF in by acquiring property held in a DomaCom sub-fund would not, in its opinion, contravene the SIS Act provided the SMSF and related parties acquired less than 50% of the units in the sub-fund created after a successful public book build and the property was not acquired from a related party.
DomaCom CEO Arthur Naoumidis says: “For DomaCom, now in the middle of an IPO, this is a critical opinion from the ATO. We believe it is a very significant development that will drive growth in the company. For the first time, SMSF members can use some of their super money to invest in a property jointly with their children to help them acquire a house to live in.”
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