The trustees borrowed from CBA bank for buy property under LRBA
So the Bare trustee is Premium Custody Service Pty Ltd that current holding property for SF
I also ordered company extract Premium Custody Service Pty Ltd that still register ASIC
Could you please guide me what else document & mention for audit if directors of Bare trustee not the same members of SF?
Many thanks
Hi Phuong
Yes, CBA when they did set up LRBA's had an offer where they used a company being Premium Custody Service Pty Ltd. This company was the entity that the property was owned by. This company was the custodian of the property.
There is no SIS requirement that the members / trustees of the Fund have to be the same as the directors of the company that is used as the custodian of the property.
The document that you should request is the agreement between the trustees of the Fund and the Custodian (being Premium Custody Service Pty Ltd).
Thanks
SMSF AAA