|Agency/Bare trust deed for use in property development involving related party builder||$2,695|
Where an SMSF proposes to engage the services of a related party builder, there are numerous risks to manage. In particular, an SMSF trustee must not acquire any asset from the related party unless that asset satisfies an exception under 66 of the Superannuation Industry (Supervision) Act 1993 (Cth). Thus, for example, an SMSF trustee must not acquire any building materials from a related party.
We prepare documents that appoint a related party to act as agent for the SMSF trustee in relation to a building project. This document authorises the builder to act as a limited agent for the SMSF trustee to acquire any required materials and/or third party services.
This document package includes:
- covering letter;
- agency/bare trust deed;
- trustee resolutions; and
- documentation to assist in directing the agent.