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How are Statutory Trust Accounts, for example Real Estate Trust Accounts, treated?

April 26, 2017accounts Real Estate statutory treated Trust

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How are Statutory Trust Accounts, for example Real Estate Trust Accounts, treated?

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The trustee is the account holder, or legal entity, for the purposes of the guarantee, not the beneficiaries of the trust. Accordingly, Statutory Trust Accounts (STAs) have an individual $1m fee free threshold. We strongly recommend that you seek your own legal and financial advice in relation to the operation of the scheme, and that you monitor any changes to the scheme, to determine how it affects you.