Anyone know what happens when the instalment loan for a super owned IP has been paid off? The use of a company was necessary because of the set up of the recourse loan, but given the loan is paid off, the function of having a company is now redundant.
I don't see the point of having to pay ASIC annual fee for a company that no longer has a purpose, but the trouble is , it's that company now which is listed ion the Cert of Title!
I would just want to have the name of my super fund as the owner. It seems in the rush for people to get on board for this loan product there has been a shortfall in knowledge as to how this has allowed to occur( at least my accountant can't answer this for me)
Is there a cost effective ( ie something I can do myself without having to engage a lawyer) way of changing the name on the title to that of my super fund without incurring any govt fees and charges given that really there has been no change in beneficial ownership?
Appreciate any suggestions and hopefully this can be something people can be made aware of if they decide to go down this road.
I don't see the point of having to pay ASIC annual fee for a company that no longer has a purpose, but the trouble is , it's that company now which is listed ion the Cert of Title!
I would just want to have the name of my super fund as the owner. It seems in the rush for people to get on board for this loan product there has been a shortfall in knowledge as to how this has allowed to occur( at least my accountant can't answer this for me)
Is there a cost effective ( ie something I can do myself without having to engage a lawyer) way of changing the name on the title to that of my super fund without incurring any govt fees and charges given that really there has been no change in beneficial ownership?
Appreciate any suggestions and hopefully this can be something people can be made aware of if they decide to go down this road.