Welcome to ESUPERFUND's November Newsletter.
In this issue, we remind you of the 2018 Annual Checklist submission and how to keep track of the progress.
Next, we provide you with some informative speeches by the ATO for your reference.
Finally, we suggest methods to help you boost your Member Balance in your SMSF.
Client Services Manager
If you established your SMSF with ESUPERFUND before 01 July 2018, you will be required to complete the 2018 Annual Checklist to enable our office to prepare your SMSF's Annual Return.
Please submit the Checklist via the Client Portal at your earliest convenience if you haven't already done so.
If you have submitted the Checklist, please check your Client Portal Inbox frequently.
If the annual compliance process has been completed or we require further information from you, we will contact you via the Client Portal Inbox.
In addition, you may install the ESUPERFUND Mobile App to view Inbox messages from ESUPERFUND in a more timely manner.
To install the App, please use your mobile phone to search "ESUPERFUND" in the App Store (if you are using an iPhone or iPad) or Play Store (if you are using an Android device).
From superannuation reporting to insight – from detection to prevention: Deputy Commissioner James O'Halloran discussed progress and improvements in Superfund reporting and the shift from detection to prevention at the Australian Institute of Superannuation Trustees (AIST) Chairs' Forum.
Click here to read the full speech.
The ATO - helping trustees of SMSFs understand their role and meet their obligations: Assistant Commissioner Dana Fleming presented at the SMSF Association Trustee Day on the support the ATO offers trustees, mistakes trustees commonly make, and insight into the ATO’s compliance program.
Click here to read the full speech.
Once your SMSF has been established, the next step is to add funds to your SMSF so you can begin to invest and enjoy the benefits of managing your Super!
A "Rollover" refers to the process of transferring your existing Super benefits from your current Super Provider to your new SMSF.
There is no limit on the amount of Rollovers your SMSF can accept for Members.
The detailed Rollover process can be found on our website here.
Your SMSF may also receive Contributions made by Employers on behalf of the Members and Personal Contributions made by Members directly (subject to Contribution Rules and Caps detailed here).
Listed below are the types of Contributions you can make.
Redirect Employer Contributions
If you are employed, you may redirect your Employer Contributions into your new SMSF by providing your SMSF’s ABN, SMSF Bank Account details, your personal TFN and our office’s Electronic Service Address (ESA) which is "ESUPERFUND" to your employer.
The detailed process can be found on our website here.
Make Voluntary Personal Cash Contributions
To make a Cash Contribution, you simply need to deposit the funds from your personal savings into your SMSF Bank Account.
Make Voluntary Personal In-specie Contributions
You may also transfer assets directly into the SMSF. This is known as "In-specie" Contributions.
The permissible asset classes and the detailed transfer process can be found on our website here.
I was very cautious about starting my own SMSF and researched ESUPERFUND as thoroughly as I could before taking the plunge.
ESUPERFUND have given me absolutely outstanding service and support from start to finish, and it continues through to the present.
ESUPERFUND are very professional, very attentive to queries, and have a very prompt turnaround on everything that is requested of them.
There should be a sixth star for OUTSTANDING!
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)