Welcome to ESUPERFUND’s April Newsletter.
In this issue, we continue to look at the recent updates released by the Australian Taxation Office (ATO) in relation to the 2016-17 Federal Budget Superannuation Reforms. We highlight the new webpages to guide you through the Transitional CGT Relief and Contributions Reserving Strategy. In addition, we introduce you the newly released Inbox feature on the Client Portal which is a useful tool to enhance your communication with ESUPERFUND. Lastly, we inform you of the email notifications sent to recipients of pensions.
Client Services Manager
During the last month, the ATO has released the final version of the Law Companion Guideline "LCG 2016/12 - Superannuation reform: total superannuation balance". The concept of "Total Superannuation Balance" becomes important after 1 July 2017 since it is relevant to determining:
Please visit the ATO’s website for a full description.
During the last month, we have published some new articles on our website to help you understand the implications of the Superannuation Reforms:
Contributions Reserving strategy refers to an arrangement whereby contributions made in June of a Financial Year are allocated to the Member in the next Financial Year. The Contributions are recognised for income tax deductibility and other purposes in the year the Contributions are made but count towards the member’s Concessional Contributions cap in the next Financial Year.
For more details, please refer to our website at https://www.esuperfund.com.au/learn/contributions-to-smsf/planning/contributions-reserving.
Recently the Inbox feature has been released on the Client Portal to provide you with an improved user experience when communicating with ESUPERFUND. With the new feature, you can now:
Login to the Client Portal and access Inbox from the Main Menu! If you have any queries or suggested enhancements, please feel free to contact us.
If you are currently accessing a TRAP from the SMSF and aged under 65 throughout the 2016-17 Financial Year, you should have received the "Post 1 July 2017 TRAP Reform" email from our office. Accordingly, please reply to the email at your earliest convenience.
However, if you did not receive the "TRAP Reform" email to date, please contact our office immediately.
If there are other member(s) in the SMSF currently in receipt of an SABP and / or have an existing TRAP but will turn age 65 during the 2016-17 Financial Year, you will be contacted by office separately in the next four weeks.
I am completely satisfied with the way ESUPERFUND manages the superfund’s compliance work. The online management is very efficient and well-structured, making us spend a minimum amount of time in providing the information. They provide the advice and tools whenever it is necessary for the compliance. The fees are very reasonable for the excellent service they provide.
ESUPERFUND Pty Ltd as Trustee for ESUPERFUND Trust ABN 37 842 535 715
General Advice Warning
The contents of this website are of a general nature only and have not been prepared to take into account any particular investor's objectives,
financial situation or particular needs. ESUPERFUND does not provide financial product advice or recommend any financial products:
This applies equally to those financial products which are established for your SMSF when you become a client of ESUPERFUND.
Where this publication refers to a particular financial product then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product.
We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website.
While the sources for the material are considered reliable, responsibility is not accepted for any inaccuracies, errors or omissions.
When setting up a SMSF it is important to understand that additional fees may apply that must be carefully considered prior to making a decision to setup a SMSF including an
ATO Supervisory Levy
Company Trustee Setup Fee (where applicable)