25 October 2010

Our SMSF Property Solution has been well regarded since its release and hopefully can assist you and your clients.

SMSF Lending Solution
This product is approved by a major Australian bank for it to provide credit lending activities. The main features of our product are: 

• Competent structure: A bare trust structure to allow an SMSF to acquire an investment property in accordance with the Superannuation Industry (Supervision) 1993 Act (Cth).

• Centralised Administration: An administration structure that records all transactions for the property in one administration service.

• Specialist Lender(s): A product that identifies lenders who provide limited recourse lending to the property so a claim cannot be made against other SMSF assets. However, some lenders may require a personal guarantee(s) from a member for any shortfall on a loan depending upon their loan agreement(s).

• Entitlements: The SMSF is entitled to all income generated by the property and any capital gain or loss in the property’s value.

• Portability: A product that allows for the SMSF to transfer the property to the SMSF once all loan repayments are made taking legal ownership to the property.

• Upkeep: The ability for the SMSF to deal with the property in the same way that a normal property investor would deal with their property, for example, lease it out, renovate, repair or sell the property. However, this is subject to the terms and conditions of the relevant loan agreement and our service to you.

• Flexible Terms: The SMSF can pay interest only or reduce the principal of the loan at any time (subject to the terms and conditions of the lender and loan agreement).

• Loan payments: All rent to be paid directly to the SMSF with loan repayments being made in the usual way from the SMSF to the lender to help pay off the loan.

• Reporting: Provides year end reporting and identification of upcoming bills and payments.

• Tax effective: Depends upon the SMSF and investors for tax effect in super.  

• Competitive pricing: The product’s pricing for services is competitive with advisers having the ability to enter into fee for service arrangements with their SMSF clients.

For your review and consideration please click this link to be directed to our flyer. If you have some interest for your client(s), we are more than happy to talk to you about this opportunity.

 

If you would like to know more, you can visit our website at www.millinium.com.au.

 

Please call us directly on 07 3004 8832 if you have any questions or email us on smsfproperty@millinium.com.au

 

Regards

Mark Jenkins

 

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Disclaimer: © Millinium’s SMSF Property Solution (“SMSF Property Solution”) is issued by Millinium Asset Services Pty  Limited (“Millinium”), a corporate authorised representative AR No. 374382 of Millinium Capital Managers Limited ACN 32 111 283 357. AFSL No. 284336 (“Millinium Capital”). The SMSF Property Solution is not a financial product pursuant to Part 7.9 of the Corporations Act 2001 (Cth). This document does not constitute an offer or recommendation for credit or property or personal advice. Investors should consider whether this product suits their objectives, financial situation or needs. This document may be amended, withdrawn or replaced without notice and does not form a contract between parties. The return of capital or income is not guaranteed.Any acquisition of real property or borrowing involves a degree of risk and potential investors should obtain financial, legal and taxation advice and consider all risks before making any decision about investing. Before investing, SMSF trustees should obtain their own advice as to whether this investment is allowable with regard to their SMSF’s investment strategy and otherwise appropriate for their SMSF. Millinium, its parent company and/or its related bodies corporate, directors, personnel or contractors disclaim any liability or loss as a result of a person’s reliance on this document and to the extent the law allow this.