1 / 4

Superannuation Gearing Bare Trusts

Superannuation Gearing Bare Trusts. Paul Trainor Level 1, 224 Rokeby Road Subiaco WA 6008 Tel: (08) 9380 4800 www.trainorlegal.biz. Super Gearing Bare Trust Flow Diagram .

jasper
Télécharger la présentation

Superannuation Gearing Bare Trusts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Superannuation Gearing Bare Trusts Paul Trainor Level 1, 224 Rokeby Road Subiaco WA 6008 Tel: (08) 9380 4800 www.trainorlegal.biz

  2. Super Gearing Bare Trust Flow Diagram “Purchaser” of property (must set out all 4 names on the Offer and Acceptance). Passively holds the property for the Super Fund ## ACN (##) Directors: Bare Trust: ATF Bare Trust Name: ATF Super Trustee: ATF Super Fund Name: ## Trust Named to prevent confusion Borrower from Bank or related party lender, pays over the money at settlement to the Vendor. ## Pty Ltd Beneficial Owner ## Superannuation Fund

  3. Notes: • Super Fund Trustee agrees to enter into the Limited Recourse borrowing transaction and to using SGBT to hold the Property on Trust for the Super Fund. • Super Fund accounts for the Property asset as being beneficially owned by the Super Fund. • Super Fund makes one or more payments pursuant to the Loan Agreement and then directs the SGBT to transfer the Property into the Super Fund. • One property per bare trust. • Trustee company cannot perform any other function eg not trustee of any other trust (unless that trust is a bare trust holding another Property for the same Super Fund).

  4. Takeaways • educate your clients in advance • create the structure in advance (if possible) • early dialogue with the bank is critical • don’t assume related party loan is easier/cheaper • offer and acceptance wording is critical • subject to finance minimum 42 days (if possible) • bumpy landing/some degree of client frustration inevitable • SMSF gearing window may not be open forever

More Related