SMSF Gearing Unwinding
$825.00 incl. GST* per property (plus disbursements). Further fees will apply if more than one property is being transferred or the property is located in Queensland.
Once a super fund’s limited recourse loan is repaid the fund may wish to unwind the arrangement.
Effective 24 September 2007 the fund’s interest in the holding (bare) trust does not become an in house asset merely because the loan has been repaid. Therefore, as the loan comes to an end there are three choices for the super fund to consider:
1. the super fund leaves the property in the holding trust,
2. the holding trustee sells the property to a third party at the direction of the super fund,
3. the holding trust is wound up and the property is transferred to the super fund trustee.
Our documents package includes the preparation of the following documents required for the unwinding of the holding trust arrangement:
- letter of advice on how to complete, execute and process all documents
- Transfer document
- Discharge of Mortgage (for related party loans)
- Notice of Sale or relevant document required in your state or territory
- Resolution and written direction of relevant entities
- covering letter to the duties office for concessional stamping of the Transfer
* An additional fee of $110 applies if the property is located in Queensland.
If the holding trust deed has not been stamped we will need to prepare our stamp duty documents package at a fee of $330 (inclusive of GST) to apply for concessional duty on this document (unless the property is located in QLD or the ACT).
$495 incl. GST per property (plus disbursements). Further fees will apply if more than 1 property is being transferred.
Our implementation service includes lodgement of all relevant documents with both the duties and titles offices, as well as responding to any standard requisitions raised by either office.