Welcome to ESUPERFUND's April Newsletter.
In this issue, we advise how you can check your SMSF's Income Tax Payable/Refundable Amount via the ESUPERFUND Client Portal.
Next, we explain how you can provide us with requested information for the Annual Accounts.
In addition, we inform you of how you can update your contact details (and password) with ESUPERFUND and with your Bank/Broker.
Lastly, we advise you of the rollover process, as well as the process to borrow to purchase residential property.
Client Services Manager
Once our office has completed the annual compliance documentation for your SMSF, you will receive a notification message in your Client Portal Inbox with the subject "Please Review and Sign Compliance Documentation".
Importantly, please remember to refer to the Income Tax Notification for the income tax payable/refundable amount.
You can access the Income Tax Notification via the ESUPERFUND Client Portal under the menu tab "Compliance – Annual Reports".
Paying Income Tax
If the Annual Return results in a tax payment, please refer to the BPAY information detailed on the Income Tax Notification and pay the tax liability from your SMSF bank account before the specified due date. Please note that given ESUPERFUND does not have transaction access to your SMSF Bank Account, we are unable to make the payment on your behalf.
Please also note that the ATO does not issue Notice of Assessments to SMSFs until any debts become overdue.
Accordingly, you will not receive any formal notices from the ATO before the payment due date.
Receiving an Income Tax Refund
If the Annual Return results in a tax refund, it will be automatically banked into your SMSF bank account by the ATO.
The expected processing time is up to 28 business days from the day we receive your signed Electronic Lodgement Declaration & Trustee Declaration.
When completing the annual tax return for your SMSF, we may request further information from you. A message in relation to us requiring further information will be sent to you via the Client Portal Inbox.
In addition, an email will be sent to your registered email address alerting you to login to view the message.
If you have been contacted by ESUPERFUND to provide additional information, please visit the Additional Information page of the Checklist to upload the requested information on the page.
Should you have any questions, please refer to the following Q&A's:
A: Please note that any documentation provided via Inbox may not be processed or will result in a delay in completing the accounts for your SMSF.
Accordingly, please ensure that the requested documentation has been uploaded under the Additional Information page of the Checklist.
A: In accordance with Section 35C (2) of the SISA, "If an auditor requests, in writing, a trustee of a superannuation entity that is a self-managed superannuation fund to give the auditor a document, each trustee of the entity must ensure that the document is given to the auditor within 14 days of the request being made."
Accordingly, please endeavour to upload the requested information at your earliest convenience.
A: No. ESUPERFUND will be automatically notified once you have provided all the requested information (i.e. once the status is complete for all the items on the Additional Information page).
You can update your contact details (address/email/mobile number) and your password through your ESUPERFUND Client Portal under the menu tab "Dashboard - Contact".
Please note that to transfer your existing Super benefits to your SMSF, you will first need to find out where your Super is currently invested.
Please also note that only members of an SMSF can rollover their Super into the fund.
Detailed information regarding the Rollover Process can be found here.
We have arrangements in place with the following Lenders to provide SMSF Loans for your SMSF to purchase a residential property:
Our SMSF panel lenders' Rates and Fees (including lending ratios, lender post settlement liquidity requirements, etc.) can be viewed here.
We advise that it is compulsory for ESUPERFUND clients to utilise our in-house broking services when submitting residential SMSF Loan applications to ensure that the legal requirements, which can be confusing and difficult to navigate, are adhered to.
To apply for a Residential SMSF Loan Pre-Approval, please submit an application via the ESUPERFUND Client Portal.
We are very happy with ESUPERFUND's service.
ESUPERFUND keeps us up-to-date with information in relation to SMSFs, and provides us with simple examples which are easy to follow.
There have been continual improvements on the annual return checklists, which makes it more and more user-friendly.
Well done and keep it up.
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)