2015 January Client Newsletter

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Issue 10 | 15 January 2015

Happy New Year and welcome to ESUPERFUND's first Newsletter of 2015!

In this issue, we have reminded you to submit the online SMSF checklist in a timely manner if you have not already done so and for those who are considering taking out Life Insurance through your SMSF, you may find it useful reading our light case study to help you estimate how much Insurance Cover you may need.

Mark Needham

Client Services Manager


Submit your 2014 SMSF Online Checklist at your Earliest Convenience

If you established your SMSF before 01 July 2014 AND have not submitted the Online checklist, please do so at your earliest convenience via the Client Portal. We kindly remind you to check the "ITR Status" under the Checklist History Page which indicates the due date for your Fund's Annual Tax Return (i.e. 28 Feb or 31 May). You must submit your annual Checklist at least 2 months before the due date for your Fund's Annual Tax Return to allow our office sufficient time to prepare your Tax Return.

To submit the checklist, you will need to complete all the sections and then click on the submit button on the “Submit” page. Access the Checklist now!

SuperStream Recap

With more employers adopting the SuperStream standards when sending superannuation contributions on behalf of their employees, you may be asked by your employer to provide a SuperStream Electronic Service Address (ESA). ESUPERFUND is a registered Messaging Service Provider with the ATO for SuperStream and our ESA is ESUPERFUND.

The major benefit of this new SuperStream system is that information relating to contributions made by your Employer will be electronically received by ESUPERFUND and no documentation or information is required from you at the financial year end. The electronic information received by ESUPERFUND will be displayed in your Fund's Client Portal. You will also be notified via email regarding your Fund's SuperStream contribution messages.

Did you Know?

Commencing a Pension is an Accounting Entry Only

When you have reached your preservation age, you may establish a Pension. Your investments stay as they are when you commence a Pension. For example if your SMSF owns cash and shares, then when you commence a Pension these assets stay as they are. You do not need to sell the shares or transfer the cash to another account in the above example.

Furthermore whilst your actual Super Benefit will be invested in a range of assets including cash and shares, ESUPERFUND will allocate your Super Benefit between your "Accumulation Account" and your "Pension Account" in the accounting records of your SMSF. For a detailed example, please visit here.


How much Insurance Cover do you need?

Life insurance helps to protect you and your family if something happens to take away your earning power.

When setting up your SMSF it’s important to know how much insurance cover you actually need to ensure members have enough. With so much to consider, it can be hard to know how much is enough. To make it easier for you there are insurance needs calculators available online to guide you.

Check the 2-min demonstration case study today!




We joined ESUPERFUND in 2007 in the hope that we could finally discover a more sensible, flexible way of managing super, without paying large fees. Lucky for us, ESUPERFUND offered the high level of control and reasonable costs. But what we had not anticipated was the very high level of support, knowledge and response that we have received over those seven years.

Self managed super does require an ongoing commitment from the trustees, but this is made so much easier by the systems developed and delivered by ESUPERFUND. We would recommend ESUPERFUND to anyone considering self managed super.

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