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[null,null,"Self Managed Superannuation Fund Servicing Calculator Version 2016.6"]
[null,null,"Attaching to and forming part of the proposal for Lenders Mortgage Insurance"]
[null,null,null,null,null,null,null,null,null,null,null,"Interest Only Term"]
[null,null,"DECLARATION",null,null,null,null,null,null,null,null,1]
[null,null,"In addition to the declaration on the LMI proposal form by submitting this proposal you represent that it complies with Genworth’s underwriting policy (both the general policy requirements and specific policy requirements applicable to loans to SMSF Trustees). ",null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,3]
[null,null,"LOAN DETAILS",null,null,null,null,null,null,null,null,4]
[null,null,"SMSF Trust Name",null,null,null,null,null,null,null,null,5,"Weekly",52]
[null,null,"New Loan Amount",null,0,null,null,null,null,null,null,6,"Fortnightly",26]
[null,null,"Assessment Rate",null,{"$f":"IF(E15>3.25%,E15+2.5%,5.75%)","v":5.7500000000000002E-2},null,null,null,null,null,null,7,"Monthly",12]
[null,null,"Borrowing Rate",null,0,null,null,null,null,null,null,8,"Annually",1]
[null,null,"Loan Term (years)",null,30,null,null,null,null,null,null,9]
[null,null,"Interest Only Term",null,0,null,null,null,null,null,null,10]
[null,null,null,null,0]
[null,null,"Total Amount of Investment Loans",null,0]
[]
[null,null,"EXPENSES",null,null,"TOTAL ANNUAL EXPENSE"]
[null,null,"Other Loan Repayments",null,0,{"$f":"IF(AND(D22<>\"\",E22>0),(E22*(VLOOKUP(D22,$M$12:$N$15,2,0))),0)","v":0}]
[null,null,"Other Loan Limits/Schedule Balance (+redraw)",null,0,{"$f":"ABS(PMT(0.073/12,360,E23))*12","v":0},null,null,null,{"$f":"MAX(F22,F23)","v":0}]
[null,null,"SMSF Running Expenses",null,0,{"$f":"IF(AND(D24<>\"\",E24>0),(E24*(VLOOKUP(D24,$M$12:$N$15,2,0))),0)","v":0}]
[]
[null,null,"INCOME",null,null,"TOTAL ANNUAL INCOME"]
[null,null,"Mandatory Superannuation Contributions",null,null,{"$f":"IF(AND(D27<>\"\",E27>0),(E27*(VLOOKUP(D27,$M$12:$N$15,2,0))),0)","v":0}]
[null,null,"Additional Superannuation Contributions",null,null,{"$f":"IF(AND(D28<>\"\",E28>0),(E28*(VLOOKUP(D28,$M$12:$N$15,2,0))),0)","v":0}]
[null,null,"Rental Income (100%)",null,null,{"$f":"IF(AND(D29<>\"\",E29>0),(E29*(VLOOKUP(D29,$M$12:$N$15,2,0))),0)","v":0}]
[null,null,"Investment Income",null,null,{"$f":"IF(AND(D30<>\"\",E30>0),(E30*(VLOOKUP(D30,$M$12:$N$15,2,0))),0)*0.8","v":0}]
[null,null,"Other Income (please specify)",null,null,{"$f":"IF(AND(D31<>\"\",E31>0),(E31*(VLOOKUP(D31,$M$12:$N$15,2,0))),0)","v":0}]
[null,null,"Total Gross Income",null,null,{"$f":"F27+F28+(F29*0.8)+F30","v":0}]
[null,null,"Interest Expense Add-Back",null,null,{"$f":"IF(F32>0,E19*(7.3-2.25)%,0)","v":0}]
[null,null,"Less Tax",null,null,{"$f":"IF(((F32-F33)<0),0,(F32-F33)*0.15)","v":0}]
[null,null,{"$f":"IF(E31>0,\"Please note Other Income will not be included in serviceability calculations and should only be used to support current servicing position\",\"\")","v":""}]
[]
[]
[null,null,"TOTAL NET INCOME",null,null,{"$f":"IF(F34>0,(F32-F34),F32)","v":0}]
[null,null,"PROPOSED ANNUAL REPAYMENTS",null,null,{"$f":"IF(AND(E13>0,E14>0,E16>0),(INT(-PMT(E14/12,(E16-E17)*12,E13)+1)*12),0)","v":0}]
[null,null,"TOTAL OTHER COMMITMENTS",null,null,{"$f":"MAX(F22:F23)+F24","v":0}]
[]
[null,null,"Net Disposable Income (NDI)",null,null,{"$f":"IF(AND(F38>0,F39>0,F40>0),(F38/(SUM(F39:F40))),0)","v":0}]
[]
[null,null,"Important - Please Note: \nThis Servicing Calculator was prepared by Genworth Financial Mortgage Insurance Pty Limited (Genworth Financial) to provide you with an indication only as to whether a loan application may meet Genworth Financial servicing criteria. It sets out the methodology by which Genworth Financial arrives at this conclusion. It is provided to you on the basis that you acknowledge that:\n- You are not relying on this Servicing Calculator when determining a customer's loan serviceability, credit worthiness or whether the loan is 'not unsuitable' in any respect as part of the credit approval process.\n- This Servicing Calculator does not take the place of your own credit policy, prudent lending guidelines or your responsible lending obligations under the law.\n- A positive outcome under this Servicing Calculator does not guarantee that your own credit policy and lending guidelines will have been met or that you have complied with your responsible lending obligations and does not constitute any representation or warranty on the part of Genworth Financial that the loan applicant represents an acceptable credit risk for the customer.\n- You are responsible for ensuring that you comply in all respects with the National Consumer Credit Protection Act and any other applicable legislation and regulation when considering the loan application and entering into the loan.\n- Genworth Financial reserves the right to determine whether or not it is prepared to grant insurance in respect of a loan application irrespective of whether a positive indication is provided by the Servicing Calculator."]

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[null,null,"How to Use Self Managed Superannuation Fund Servicing Calculator "]
[]
[null,"USING THE CALCULATOR"]
[]
[null,"Simply input your data into the unshaded fields. The figures in the shaded fields will automatically be calculated.  Please see below to find out what information  needs to be entered into each field and how the NDI ratio is calculated. Please include a copy of this calculator with every  LMI application involving a Self Managed Super Fund."]
[]
[null,"LOAN DETAILS"]
[]
[null,"SMSF Trust Name",null,null,"For Identification purposes only."]
[null,"New Loan Amount",null,null,"Used for automatic calculation of proposed monthly loan repayments at the Genworth default interest rate (see below). If you have previously arranged with Genworth Financial to capitalise the premium and stamp duty, please ensure the loan amount entered includes those amounts to be capitalised."]
[null,"Interest Rate",null,null,"The greater of the actual rate (plus 2.25%) or the Genworth default rate. Used for automatic calculation of monthly loan repayments."]
[null,"Loan Term",null,null,"Term of the loan in years. Defaults to 30 years. Amend the loan term as required."]
[null,"Interest Only Term",null,null,"If the current repayment type is Interest Only, you must select from the drodown box, the intital Interest Only term. Servicing will be calculated on the original term less the initial interest only term. Ie: 30 year term - 5 years Interest Only, repayments will be P & I over 25 years."]
[null,"Total Amount of Investment Loans",null,null,"Total amount of all investment loans in the name of the borrowing SMSF."]
[]
[null,"EXPENSES"]
[]
[null,"Total Other Loans",null,null,"Include any other loan repayments that relate to the Self Managed Super Fund only. Do not enter commitments that belong to individual beneficiaries. Defaults to $0."]
[null,"SMSF Running Expenses",null,null,"Include any expense that relates to running the Self Managed Super Fund. Defaults to $0."]
[null,"Frequency",null,null,"Frequency of expenses (monthly, fortnightly, monthly or annually). Please ensure this field is populated in order for NDI to be calculated correctly."]
[]
[null,"INCOME"]
[]
[null,"Mandatory Superannuation Contributions",null,null,"Include mandatory superannuation contributions only. For self-employed applicants superannuation contributions must be evident over a two year period."]
[null,"Additional Superannuation Contributions",null,null,"Include superannuation contributions in excess of mandatory amount. Must be supported by a 2 year history of regular contributions  by way of additional superannuation contributions over and above the compulsory 9% SGL, personal investments, savings or additional loan repayments."]
[null,"Rental Income (100%)",null,null,"Enter 100% of rental income from investment properties held by the Self Managed Super Fund only."]
[null,"Investment Income",null,null,"Enter 100% of investment income calculated based on 3% deeming rate of the current value."]
[null,"Other Income (please specify)",null,null,"Include any other income in this section and specify what it is. This income will not be used in serviceability calculations but can support current servicing position."]
[null,"Frequency",null,null,"Frequency of income (monthly, fortnightly, monthly or annual). Please ensure this field is populated in order for NDI to be calculated correctly."]
[null,"Interest Expense Add-Back",null,null,"Interest Expense Add-Back in this section as calculated using current assessment interest rate less 2.5%. NOTE: this is not an editable field."]
[]
[null,"CALCULATION RESULTS"]
[]
[null,"Total Net Income",null,null,"Total gross income entered less tax payable (calculated at 15%)"]
[null,"Proposed Annual Repayments",null,null,"Automatically calculates annual repayments for the new loan at the default rate."]
[null,"Net Disposable Income Ratio (NDI)",null,null,"Automatically calculates the ratio of net disposable income to total commitments"]