Millinium's SMSF Property Solutions - Features
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Features of Millinium’s SMSF Property Solution
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Competent structure: A bare trust structure that allows your Self Managed Super Fund (“SMSF”) to acquire an investment property in accordance with the Superannuation Industry (Supervision) Act 1993 (Cth) (“SIS Act”).
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Centralised Administration: An administration structure that collates and records all transactions for the property from purchase on one administration service.
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Specialist Lenders: 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).
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Entitlements: The SMSF entitled to all income generated by the property and any capital gain or loss in the property’s value.
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Portability: A product that allows for your SMSF to transfer the property to your SMSF once all payments including loan repayments are made to take legal ownership to the property.
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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, repair or sell the property. However, this is subject to the terms and conditions of the relevant loan agreement and our service to you.
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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). The terms will generally differ depending upon the lender and terms and conditions (some loan are fixed terms and other may not be and costs may apply).
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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.
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Tax effectiveness: In the superannuation regime, there can be significant tax concessions for a complying SMSF over many other investment methods.
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Reporting: Provides year end reporting and identification of upcoming bills and payments.
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Competitive pricing: The product’s pricing of services is competitive with advisers having the ability to enter into fee for service arrangements with their SMSF clients directly.