Business News

Federal Court delivers DomaCom decision

The Federal Court has ruled against SMSFs investing in DomaCom sub-funds owning properties leased to related parties.

The ruling, made last Thursday, only affects an SMSF if the investment in a sub-fund constitutes 5 per cent or more of its total assets.

It has no bearing on DomaCom’s current business model.

DomaCom chief executive Arthur Naoumidis said: “After the court hands down its orders we will study the judgments closely and make a further announcement after the effect, if any, of the decision on the DomaCom Fund.”

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