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LRBA ??? Custodian Company

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Q & A ???Custodian Company

The questions and answers below are for information purposes only and are not advice. You should arrange your own legal, accounting, financial and other advice.

What is an LRBA - Custodian Company

Under the SIS Act a Trustee of a Superannuation Fund can in some circumstances borrow funds to acquire an asset for that Fund. The funds borrowed must be used to acquire an asset that is held on trust so that the Trustee of the Fund acquires a beneficial interest in the asset, and the legal title to the asset is held by a third party Custodian on behalf of the Trustee. The Custodian mortgages the asset to the Lender. The Bare Trust sets out the terms of that trust arrangement.

The Custodian Company acts as Custodian and holds legal title to the asset.

Disclaimer

You should not rely solely on the information in these questions and answers because they are of a general nature only and the tax and commercial laws apply differently to different people and circumstances. Also as the law changes constantly, there may have been changes to the law since these questions and answers were written. None of the information is intended to be legal, accounting, financial or other advice. You must not act on the information. You must seek your own legal, accounting, financial and other advice.
Document Shop Pty Ltd and it???s directors, officers, employees, agents, consultants and the author of these questions and answers expressly disclaim any and all liability to any person or entity for the consequence of anything done or omitted to be done by any such person or entity relying on a part or all of the contents of these questions and answers

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Contact us


Phone: 1300 667 817

info@documentshop.com.au

PO Box 47 Highgate SA 5063