When acquiring property using a loan, the property being acquired must be purchased under a Property Custodian Trust. This structure is also commonly referred to as a Bare Trust.
We can arrange for the preparation of all the required documentation to establish the Bare Trust. Most lenders will require the Trustee of the Bare Trust to be a Company. If you have a Company as your SMSF Trustee, this Company cannot be used as the Bare Trust Trustee. The Company must be a completely separate Company.
Just Superfund charges a once-off fee of to set up the Bare Trust and Company Trustee, but there is no ongoing fee payable to Just Superfund for these. The total cost is $1760 inc GST (that is made up of $880 for the Bare Trust and $880 for the Company that will be trustee of the Bare Trust). Our fee covers all ASIC and document costs.