How to add a property – Simple Fund 360 Knowledge Centre

Overview

This article will instruct you on how to add a property to your fund.

How to create a property account

Step 1 - Navigate to the Property Dashboard

From the Main Toolbar, Select Investments.
Select the Property Dashboard.

Step 2 - Create a Property Account

From the Property Dashboard screen, Select +Add Property.

Step 3 - Input Property details

Part 1 - Entering the property address

Enter the property's address. The Property Dashboard integrates with Google, allowing you to search for the address. Once selected, all address fields will be automatically populated.

If the property does not have an address, check the box at the bottom of the table and enter the property's name.

Part 2 - Entering property details

Screen Options	Explanation
Property Type	Select the Property Type for this property. The supported property types are: Australian - Residential Australian - Non Residential Overseas - Residential Overseas - Non Residential Farming Property
Account Code	The Account Code serves as the unique identifier for this investment account. Users can edit the Account Code before saving, but once saved, it cannot be modified.
Subject to CGT	By default, this check box is ticked. This asset is subject to CGT upon disposal.
LRBA/Loan	Togglling this option to "yes", will create a linked Limited Recourse Borrowing Arrangements (85500/PropertyCode) account to the property.
Report property count on annual return	Togglling this option to "yes", will populate the Property Count Label under the LRBA arrangement section (Section H Label J7) of the SMSF Annual Return (2020FY onwards). Note: Only applicable when the property is subjected to LRBA.

Once the deatils are entered select Save.

A property has now been added, please add in all of the relvant details on through the Property Dashboard.