Borrowing

Borrowing:

DBA offers packages to document borrowings by SMSF trustees in order to acquire assets, including:

• Loans from a bank or other commercial lender.
• Loans from a related party (eg, family trust, company or members).
• Please refer to this brochure for pricing and what’s included.

In addition to these costs, the SMSF trustee may also incur costs for the following:

• A new company is needed to act as the custodian of the asset being acquired. This must be a separate company to the SMSF’s trustee. This can be established via your preferred company supplier.
• The SMSF’s deed must have sufficient powers for the arrangement and some deeds may therefore require amending. Click here for information about DBA deed updates.
• The SMSF trustee will also need to engage a conveyancer. DBA can provide referrals to appropriate conveyancers upon request.
• Depending on the jurisdiction, stamp duty advice from a jurisidiction-specific lawyer might be required.

SMSF trustees and advisers wishing to undertake borrowings for:

• Assets other than real estate; or
• Real estate located outside of Victoria,
  should contact our office to discuss the arrangement before forwarding any instructions.