Support Query

How do I add a rental property investment to a fund? 

Solution

1. From the Chart of Accounts screen, select Add Account and click Investment. The New Investment Account screen will display
   
   
2. Under the Account Class heading, leave as Sub Account. 
   
   

3. Investment Type - Choose the Real Estate Property type 
   
   

   Investment Types	Account
   Real Estate Properties (Australian - Residential)	77200
   Real Estate Properties (Australian - Non Residential)	77250
   Real Estate Properties (Overseas - Residential)	77300
   Real Estate Properties (Overseas - Non Residential)	77350

4. Securities  - select Create New to add a new security for the Real Estate Property to the list. Refer to the Securities Screen for more information. Once the security is created and selected, SF360 will now prefill the Investment code and name for the account.
   

5. Next, select More Details to input the following information for the investment:

   Account Option	Explanation
   System - More Details Label	Unitised Investment will be selected by default.
   Tax Label	Ensure the correct tax label has been selected for the property example Assets - Residential Real Property
   Asset subject to CGT	By default, this check box is ticked. This asset is subject to CGT upon disposal.
   Assets subject to Limited Recourse Borrowing Arrangements	Selecting this checkbox will filter the Tax Label section to show labels applicable to LRBA only. See Limited Recourse Borrowing Arrangements (LRBA) for more information.
   Report property count on tax return (2020 onwards)	Selecting this checkbox 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.
   Linked Accounts	Displayed in this section are the linked accounts to the investment that have been created by SF360. Select Add Link Account to add another linked account to the investment or Delete to remove a linked account. SF360 will create income, expense and liability accounts for the investment. see How to link multiple expenses to a Rental Property for more information.

6. Once you have finished inputting the investment account information, select Save to add the investment account to the chart of accounts or Cancel to not add the account.  
   
   
7. See How to Enter Investment Purchases for more information on recording a purchase.