STORAGE
SECURE STORAGE
If you do not wish to offer your instrument for sale, Premier Guitars can simply store your instrument in safe and secure conditions for a very affordable monthly fee calculated on a per unit basis.
The Vault – Our premises in a modernised commercial building in northern Sydney are some of the most secure possible. Features –
Multiple motion sensors with alarm system & 24/7 back to base security.
CCTV via multiple cameras, back to base monitoring.
State of the art fire detectors.
First floor location at rear of commercial building. No direct access from street or carpark.
Entry requires access to 4 locked doors.
Main showroom has a steel bar door over a fire rated solid security door – access only via 2 x locked vault doors with deadbolts.
Main walls & floors are brick & concrete. One wall is steel reinforced solid timber.
All windows locked closed. All windows have metal grill with security bars, and 100% reflective internal safety film. Windows fitted with shatter detectors.
Industrial strength metal & timber shelving.
Climate controlled storage space with air conditioning and dehumidifier as required.
* Call us on 0414 994 506 to discuss your storage needs.
Storage & Super Funds –
It may be of interest to some collectors who own instruments in the name of their self managed super fund (SMSF), that Australian government law imposes strict conditions on the ownership of collectables by SMSFs. Some of these are outlined below, and on the ATO links provided. However, it is the responsibility of owners, and the trustees of SMSFs to ensure they understand the conditions of the Superannuation Industry (Supervision) Act 1993. It is not the responsibility of Premier Guitars to ensure you understand these SMSF conditions.
Rules for Collectables owned by Australian Self Managed Super Funds
On 1 July 2011 rules were introduced into the Superannuation Industry (Supervision) Act 1993 (SIS Act) for self-managed superannuation fund (SMSF) investments in collectables and personal use assets. These rules took effect on 1 July 2011. The rules apply to all new investments in these assets made on or after 1 July 2011.
IMPORTANT TO KNOW – For assets acquired by a super fund before 1 July 2011, you must ensure that the assets cease to be stored at the private residence of a related party before 1 July 2016. If by 1 July 2016 the assets do not comply with the regulations, penalties may be imposed.
For assets acquired by a super fund after 1 July 2011, you must ensure that the assets are not stored at the private residence of a related party, effective from 1 July 2011.
The following excerpt from www.ato.gov.au
The regulations require that:
- collectables and personal use assets must not be leased to any related party of the funds
- collectables and personal use assets must not be stored or displayed in the private residence of any related party of the fund
- trustees must make a written record of the reasons for the decisions on where to store the collectables and personal use assets and keep the record for 10 years
- trustees must ensure that collectables and personal use assets (other than a membership of a sporting or social club) are insured in the name of the fund within seven days of acquisition
- collectables and personal use assets cannot be used by any related party of the fund
- the transfer of ownership of collectables and personal use assets to a related party of the self-managed super fund must be done at a market price determined by a qualified independent valuer.
Useful Links:
Call us on 0414 994 506 to discuss your storage needs.
