Hello
We all know a Super fund can't borow to invest, but I have heard that there are other legal ways to achieve the same result?
I am searching for an accountant who knows what is this legal way and how to set it
I have come across a Structured product which claims they can do this and have ATO ruling
Although that might be true it locks one in their selected property and also it is only offered at higher levelCan anybody have a look at this and advice if they can structure similar for an individual
http://www.quantumwarrants.com.au/howitworks.php?content=quantum
Any help appreciated
Please emial me if you can help
Thanks
MikeHi Mike
It seems that this system will be hard to replicate yourself on a small scale. It is that company which provides the loan, and an asscoiate company acts as trustee (legal owner) for the property until it is transferred at the end. There is another company that manages the property. I have never actually seen a non recourse loan myself. I have heard about them on larger projects, but have never heard of anyone offering one on smaller loans. This would probably be the hardest part in setting it up – though I am not sure if the non-recourse nature is essential for this.
I have seen people buy property in a unit trust and then have some units in the unit trust owned by their SMFF, but am not sure if this is still allowable.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The Non Resourse feature is not required however Is it legal to
"do the buy property in a unit trust and then have some units in the unit trust owned by their SMFF"
Thats is teh question I have
MikeI believe it can be done through a JV agreement and had some advise from a lawyer recommended by my accountant re this which all seemed to make sense. JV agreements need to be set up so it does cost to do this. I can give you the details if you want to email me.
REgards
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