Calliva	Westpac	NAB	St George	Macquarie
	Product	Calliva SuperAccess	Limited to two products, only being: – Business Loan (residential, commercial or rural property as security)or – Bank Bill Business Loan	NAB Commercial Property Loans (CPL) NAB Home Loans (HL)	Business Loan Variable / Commercial Loan Variable / Business Loan Fixed / Commercial Loan Fixed	Macquarie Property Lever
	Purpose	For acquisition by complying SMSF of an income producing property. May be owner occupied or investment. Related party vendors OK (Commercial Property Only)	To finance the acquisition of – a residential or – non-specialised commercial property for investment purposes – rural properties non-specialised	To finance the acquisition of nonspecialised commercial residential property for investment purpose.	Lending to SMSF	n/a
	Loan Type	P&I or IO IO max. 5 yrs, then P&I	P&I or IO IO max. 10 yrs	P&I or IO	P&I or IO IO max. 5 yrs	IO
	Loan Term	max. 20 yrs.	– residential prop.: 25 yrs. – non specialised commercial prop.: 15 yrs.	CPL: max. 15 yrs. HL: max. 30 yrs.	1-10 yrs.	9 years & 6 months
	Loan Value (min)	$150,000	n/a	CPL: $50,000 HL: $20,000	$250,000	$165,000
	Loan Value (max)	$2,000,000	– residential prop.: $5,500,000 – commercial prop.: $5,000,000 – rural non-specialised: $5,000,000	no max. limit	unrestricted	n/a
	Larger Loan Available	case by case	n/a	no max. limit	n/a	n/a
	LVR	– Current Lease (yrs ≥ 5 with options): 70% – Current Lease (3 ≥ yrs > 5 with min. 3yr option): 67% – Current Lease (2 ≥ yrs > 3): 65% – No lease to 1yr: 60	– residential property: 72% – commercial property: 63% – rual non-specialised: 50%	CPL: 65% HL: 70%	– residential property: 72% – commercial property: 80%	55 % of the lower of the vendor price or market value.
	Pre-Approval	available	n/a	not available	n/a	not available
	Interest Rate	Refer to current rate card – 10.80% pa variable – 10.95% pa 1 Year fixed – 10.80% pa 3 Years fixed – 10.75% pa 5 Years fixed	– Business Loan (res. prop.): SMSF margin loading 0.15% + Base Rate – Business Loan (com. prop.): Product margin 0.75% + SMSF margin loading 0.15%= end margin 0.90% + Base Rate – Business Loan-Other-for Rual property: standard customer margin based on Risk Grade + SMSF margin loading 0.15% + Base Rate – Bank Bill Business Loan: standard customer margin based on Risk Grade + SMSF margin loading 0.15% + Base Rate(fixed and variable rates are available)	Refer to existing individual product rules	– residential: Business Loan Variable + 0.75% (currently 10.57%) – commercial: Commercial Loan Rate (currently 11.50%) – fixed rate: available (Fixed Rates + margin)	applicable interest rate at time
	Security Type	First mortgage over income producing Commercial, Indus- trial & Rental real estate, i.e. – shops – factories – workshops – warehouses – showrooms – doctor’s surgeries – medical suites – Strate Titled – Freehold pl. Leasehold in ACT	First mortgage over asset + supported or unsupported guarantee from member(s)/ director(s) of the SMSF; particulary where reliant on their future superannuation contributions for serviceability	First mortgage over asset + guarantee from SMSF member(s)/director(s) given strictly in their personal capacity	First registered limited resource mortgage over commercial property given by Property Custodian + guarantee limited to facility expressly excluding right of indemnity against the SMSF and SMSF Trustee given by Property Custodian + additional security maybe required / provided based on individual transactions.	First mortgage over asset
	Security Exclusions & Limitations	– no residential (Mid July it will be possible) – no specialised like sevice stations, pubs, motels or childcare centres – no vacant land – no development – no construction or refurbishment – no Company Title	Limited to – residential – commercial property purchased (non specialised) – rural (non specialised)	n/a	n/a	n/a
	Security Location	– Australia – Major Capital & Metro – Regional Centres (population > 25.000)	n/a	n/a	n/a	n/a
	Guarantor	not required	Requires personal guarantee from members or directors of the SMSF	Guarantee and Property Morgage provided by the Security Trustee Guarantee from fund members/directors given in their personal capacity	n/a	not required
	Loan Serviceability	(1) Rent must be 80% > monthly Payment (2) Rent + 8 % assumed on other assets SG contributions to fundTotal income of SMSF (including rental from the Property) must exceed 1.15x debt service (P&I) on the loan at stressed Interest Rate (+2%)	Residential/Commercial: (1) net rental income (stand alone) from prop. investment or (2) net rental income from property investment + (3) Super Fund Trustee (director/member) incomeRural (1) Serviceability assessment is only to include net income from proposed rural property investment. Additional superannuation contributions may NOT be taken into account. (2) Satisfactory assessment of the farming operators ability to make rental payments to the property trust must be undertaken.	Assesed on case by case basis considering (1) net income from the property investment (2) continued super contributions (3) future super fund earnings	n/a	not stated
	Application Fee	$1,000.00 (payable on lodgement; non-refundable but credited against establishment fee at settlement)	n/a	Refer to existing individual product profile	n/a	$3,000
	Establishment Fee	1.5% paid at settlement	(1) Business Loan (Resi): $820-Flat Fee (2) Business Loan (Com. & Rual) and Bank Bill Business Loan: $820 + 0.6% on amounts greater than $100,000 (3) Product fee also apply	n/a	0.25% of loan amount; min. $1,500.00	n/a
	Pre Purchase Costs	Loan set-up costs – valuation – lender’s legal fees – title insurance – stamp duty (where applicable) – applicable government charges	Amounts not stated but customer responsibility	Loan set-up costs – valuation – lender’s legal fees – title insurance – stamp duty (where applicable) – applicable government charges	Customers may incur these other costs: – property valuation ( quotation from panel resi / comm. property valuer required) – Preparation of loan and security documentation by an external panel solicitor – Structure Compliance Costs incl. Vetting of Trust deeds and arrangements; confirmation of compliance with corresponding rules by an esternal panel solicitor – Statement of Advice provided by a financial plan or accountant – Statement of independent legal advice. – Preparation of loan and security documentation by an external panel solicitor	Customers may incur these other costs: Completion of the Written Certification Proforma by your solicitor ($500 – §1,000) Pre-purchase building inspection ($200 – $1,000) Council building inspection ($100 – $400) Suvey report ($400 – $1,000) Pest inspection ($100 – $150) Strata inspection report ($250 $350)
	Break Costs	NIL	unknown	Refer to existing product rules	Applicable to Fixed Rate Lending	Reimbursement of costs incurred
	Early Close Out Fee	NIL	unknown	Refer to existing product rules	n/a	$2,000
	Security Deposit	NIL	unknown	n/a	n/a	20% of Vendors Price required as security deposit. Will not be fully refundable if sale falls through
	Administration Fee	NIL	unknown	n/a	n/a	0.25% of loan amount, paid monthly
	Borrower Eligibility	Complying SMSF. Minimum asset value of SMSF to be Property deposit plus $100,000	Complying SMSF	Complying regulated super fund	Complying SMSF	unknown
	Super Fund Creation	Can be by customer or by Calliva	n/a	Customer responsibility or refer to NAB FP	n/a	no
	Super Fund Trustee	Up to clients – individual – corporate	Must be a company	Can be a company or an individual	n/a	unknown
	Super Fund Contribution	Deposits + costs	n/a	CPL: Balance of purchase price and costs HL: Balance of purchase price	n/a	Balance of purchase price
	Property Management	can use own Property Manager however they must be licensed and otherwise satisfy Calliva standards in relation to qualifications and insurance (infers that Calliva does not provide the Property Manager)	n/a	to be arranged by customer	n/a	provided through Macquarie and Security Trust. Agreement is between the Customer, Macquerie, Sucurity Trust and Property Management company (MPL Property Managers)
	Property Insurance	Replacement value as stated by valuer	n/a	Existing rules to apply	n/a	Obtained by Macquarie and funded from Administration Fee
	Property Maintenance Costs	Paid by SMSF	n/a	Customer responsibility	n/a	Paid by customer. Includes council rates, land tay, payment of utility providers, strata and body corporate fees, property management fees (7 to 10% of gross monthly rental income), ancillary fees for services provided by the Property Manager
	Review of Property Purchase Contract	Part of process	n/a	Done by NAB as part of loan application	n/a	Mandatory using Macquarie panel solicitor
	Customer Choice of Security Trustee	Yes. At the time to settlement, the initial trustee of the trust will be Calliva Nominees Pty Limited. Immediately following settlement the trustee will be transferred to customer’s nominee. As a consequence Calliva Nominees will need to sign the purchase contract and will do so on instructions from customer’s conveyancer or lawer.	Yes, but not provided by Westpac.	Yes, customer to establish their own Security Trust and appoint Trustee	n/a	No. Must use Macquarie Trustee
	Security Trust Establishment	$2750	n/a	Customer responsibility	n/a	Done by Mcquarie
	Security Trust Trustee	Anyone or any company that customer nominates other than the trustee of customer’s super fund.	Must be a company.	To be nominated by customer. Can be a combany or an individual.	n/a	Macquarie Property Lever
	Legal Assessment of Trust Deeds	Not required for Security Trust deed as Calliva provides this product.	SMSF Trust Deed and the Property Trust Deed must be perused by Westpac’s ecternel lawyers. Cost must be borne by the customers as an additional cost to fees stated above. As a guide fees will range from $2-$3k minimum and will increase based on the level of amendments required to amend the deed to enable the trust to participate in the SMSF opportunity.	Reviewed by NAB legal services as part of loan application process.	n/a	Use Macquarie trust structure only. Done internally
	Other Points / Features	No redraw, no line of credit.	No redraw, no set-off.	No redraw, no set-off, no capitalisation of interest, no refinancing, no splits or consolidations, no security swaps, no limit increase.	n/a	Insures against tenancy vacancy and loss or rent. Customers must get external legal advice. Pays trailing commission to adviser
	Transaction Time	Â	Â	Â	Â	Â
	3rd Party	Valuation + Trust Setup	n/a	n/a	n/a	Â
	Sale/Leaseback	otherwise standard delays	n/a	n/a	n/a	n/a
	Supporting Docs	– evidence that the super fund is complying – election to be regulated – last 2 years audited returns SMSF only or Accountans letter confirmed 1) complying fund 2) Assets fund 3) Member fund 4) (Logement Certificate) – Bank statements, fund unit statements or share holding statements to confirm other assets – contract for sale – Lease(s) – statement as to how you intend to fund the shortfall	– SMSF Trust Deed (this is required to ensure that the superannuation fund may borrow/mortgage). – Before settlement, the Super Trustee will also need to provide a copy of the Property Trust Deed – the Property Trust Deed must include provision for: > the borrowed funds being applied for the acqui- sition of the Purchased Property > the Purchased Property is being held on trust for the SMSF, and > the SMSF has a right to acquire legal ownership by making one or more payments AFTER having acquired beneficial interest – The Business Finance Agreement (BFA) is to be pre- pared as a stand alone BFA for this facility and forwarded to Westpacs panel solicitor for review prior to deliver to the customer	n/a	– past three years Financial statements and tax return for the SMSF and related business entities / members – Proof on rental income/s – Servicing must be demontrated by the SMSF from the property being purchased and other property held; other investment earnings of the SMSF, proven available members contributions	n/a

 

These are not our properties. We don’t sell retail. These properties are used only as a guide to what is going on in their respective market. Our properties are purchased at a deep discount, Refurbished to like new and then sold at wholesale prices to the investor. There will always be equity built in based on the valuation on the property and the purchase price proving that the investor is getting a great price.

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The United States federal government taxes personal income using graduated scale. Income tax rates begin at 10% and gradually increase to 15%, then 25%, then 28%, then 33%, then 35%, and finally reaching a top rate of 39.6%. Each tax rate applies to a specific range of income. This range is called a tax bracket. Where each tax bracket begins and ends varies depending on a person’s filing status. Tax rates can also vary depending on the type of income a person has. Ordinary tax rates apply to most types of income. There’s a special tax rate schedule that applies to long-term capital gains and qualified dividends. Let’s first get an overview of all the tax rates for 2014. The chart below shows the ordinary tax rates (first column) and rate for long-term gains and qualified dividends (second column). The rest of the columns show the beginning and end of each tax bracket, grouped by filing status. It’s important to note that the dollar amounts represent taxable income — which is total worldwide income after various deductions have been subtracted.