30/05/2012

This package assists with the concessional transfer of the asset in a SMSF Gearing transaction back to the super fund upon repayment of the loan, (including, for NSW only, an implementation service) to streamline the process.

You would be aware that once the loan is repaid the fund's interest in the holding trust becomes an in-house asset as the exemption in s71(8) and (9) of the SIS Act will no longer apply.  As a result unless the fund can meet the in-house asset rules in respect of the holding trust, that trust must be wound up and the property transferred back to the super fund.

Our documents pack includes:

• Letter of advice on how to complete, execute and process all documents
• Transfer document
• Discharge of Mortgage
• Notice of Sale or relevant document required in your state or territory
• Resolutions of the SMSF Trustee
• Formal direction by the SMSF Trustee to the Holding Trustee, requiring the Holding Trustee to sign the Transfer
• Resolutions of the Holding Trustee
• Covering letter to the duties office for concessional stamping of the Transfer

Price: $825.00

If you have any questions in relation to this article, please contact TOWNSENDS BUSINESS & CORPORATE LAWYERS on (02) 8296 6222.