Welcome to ESUPERFUND's February Newsletter.
In this issue, we remind clients who have not yet submitted the 2017 Online Checklist to do so at their earliest convenience. We also detail how you can contact ESUPERFUND through your Client Portal Inbox. Next, we address Client Portal login issues. In addition, we inform you about SuperStream and the FAQs related to SuperStream. Lastly, we outline the do's and don'ts when investing in property through your SMSF.
Client Services Manager
If you established your SMSF before 1 July 2017, you are required to complete the Online Checklist to enable our office to prepare your SMSF's Annual Return.
Should you have not yet completed the Online Checklist, please complete and submit the Online Checklist via the Client Portal at your earliest convenience.
In order to submit the Online Checklist, you will need to complete all the sections, and then click on the submit button on the "Submit" page.
Please note that you are required to submit the Checklist even if your SMSF did not have any transactions in the 2017 Financial Year.
To view Annual Checklist FAQs, please visit our August Client Newsletter.
We advise that for security purposes, all communication between ESUPERFUND and current clients must be made via the Client Portal Inbox.
If you wish to contact ESUPERFUND, please log into your Client Portal and click on "Contact Us" / "Inbox" to initiate a new query.
We have recently released a "Forgot Login Details" function on the Client Portal login page.
This enables you to reset your password or retrieve your registered email address.
Click on "Forgot Login Details" located under the login button and follow the prompts to resolve your login issues.
All superannuation funds, including SMSFs, must receive contributions from employers electronically in accordance with the SuperStream Standard.
SuperStream is a government reform aimed at improving the efficiency of the superannuation system.
Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically in accordance with the SuperStream Standard.
In order for your employer to meet the SuperStream requirements, you will need to provide your SMSF ABN, SMSF Bank Account details, Electronic Service Address (i.e. ESUPERFUND) and your personal TFN to your employer.
Please note that not providing your personal TFN or providing an incorrect TFN (e.g. your SMSF's TFN) can result in our office being unable to recognise or process the SuperStream message.
If you receive an error message "Superannuation fund with ABN xxx is invalid/inactive" for your employer contributions, please ensure that you have quoted your SMSF's ABN.
Your SMSF's ABN can be found on your Client Portal under menu tab "Dashboard - Fund Summary".
To the extent that you have quoted the correct ABN, please provide your employer a screenshot from Super Fund Lookup with your SMSF's ABN to evidence your Fund's compliance status.
This should enable your employer to proceed with directing employer contributions to your SMSF.
As Trustees of the SMSF, you need to ensure that the property investment complies with the Super Law.
Listed below are some common do's and don'ts regarding Property Investments:
Before you make a complex property investment, you should contact the ATO directly for some SMSF specific advice to ensure that the investment does not breach the Super Law.
ESUPERFUND is very professional and the system provided by them is easy to use.
They are constantly upgrading to simplify the entire process of operating an SMSF.
The annual tax return preparation is quite straightforward and it improves year-by-year.
The initial SMSF setup is also very user-friendly.
Full marks to them!
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)