We recently supported our client CrowdProperty Australia with the launch of their company and product to the Australian market.
CrowdProperty is an online marketplace platform providing project loans to SME property developers and investment opportunities for wholesale investors, including SMSFs and trusts. All project loans are secured by first mortgage.
How we helped CrowdProperty Australia
MGI Adelaide was engaged as CrowdProperty’s accounting and tax advisory firm. Soon after, MGI was appointed the fund accountant to the CrowdProperty Investment Trust (‘Trust’).
As the fund accountant for the Trust, and in collaboration with CrowdProperty Australia, MGI contributed to the unique investment structure adopted for the Trust and as a result, created a simpler cashflow process and tax structure.
In MGI’s role as CrowdProperty Australia’s appointed accounting firm and tax adviser, we have provided CrowdProperty and the Trustee of the Trust with taxation advice to ensure the Trust is compliant with tax laws.
How CrowdProperty works
CrowdProperty project loans earn up to 7% p.a. target interest returns* and projects typically run from 6 to 18 months. Interest is paid back at the end of the loan term.
Wholesale investors, including qualifying SMSFs (both qualified by your accountant issuing an accountant’s certificate) register on the CrowdProperty platform and are then able to view the property projects CrowdProperty is currently funding. Investors can view all the information about the project and watch a webinar with the property project developer.
Once each investor is approved, they can pledge funds against the project — minimum investment is $10,000, there is no maximum.
Find out more and register at: https://www.crowdproeprty.com.au/investors
Meet CrowdProperty Australia
We love bringing our clients together to network and explore mutual benefits. We’ll be hosting CrowdProperty at a future event in Adelaide to introduce our SMSF and wholesale investor clients to them. Keep an eye on your inbox for an announcement.
Get in touch
If you’re not sure if your SMSF qualifies or whether you’re a wholesale investor, get in touch with your accountant at MGI Adelaide and we can discuss it with you and/or arrange an accountant’s certificate.
