News and Announcements
DomaCom is Supporting a Federal Court Action Appealing for its Sub-Funds
- Published June 05, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
DomaCom is supporting a Federal Court action appealing for its sub-funds to be considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act.
KEY TAKEAWAYS:
- If successful, SMSF investors with the ASX-listed fractional investment fund manager would be able to invest in property sub-funds in which the tenant of the underlying property is in some way a related party of the SMSF.
- In seeking the determination DomaCom believes it will play a key role in helping people use their superannuation to access the property market while still protecting the assets of the SMSF.
- The Federal Court action follow years of working to help solve the issue of housing affordability for young people.
“The unique arm’s length structure of the DomaCom Fund protects the SMSF assets whilst generating commercial rates of income and capital return that the underlying property delivers,” DomaCom chief executive Arthur Naoumidis said.
“Residential property can be used as an anchor asset class for the superannuation portfolios of Generation X and Y investors which can then expand to other asset classes later in life. The Gen X/Y investors can then rent the property and acquire more of the interest in the related sub-fund as time goes on.”
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