Issue 43 | 15 October 2017
Welcome to ESUPERFUND’s October Newsletter.
In this issue, we highlight some new webpages on our website to guide you through common compliance breaches and valuation
of SMSF assets. We continue to look at the recent updates released by the Australian Taxation Office (ATO). Next,
we remind you of the Term Deposit and ING Business Optimiser Account application process via your Client Portal and
list the documentation required. Lastly, we advise you of the steps to reset your Client Portal login password.
Client Services Manager
New Webpages on the ESUPERFUND Website
Common Compliance Breaches
While running your own SMSF has a number of attractive benefits, it also comes with a lot of important rules and regulations.
It is essential to be aware that when you establish an SMSF, you become a Trustee of that Fund and are responsible
for complying with all legal obligations. Compliance breaches made while managing SMSFs range from minor administrative
errors to significant breaches, with a potential for big penalties. Understanding and avoiding the
common compliance mistakes will help to ensure you are not at risk of penalties.
Updates from the ATO
ATO Presentation: Superannuation Funds
On 24 August 2017, the Deputy Commissioner of Superannuation, James O'Halloran, gave a speech at the National Superannuation
Conference detailing how the ATO is responding to the new Super measures. A copy of his speech can be found on
the ATO's website.
New Online Service: ATO Community
The ATO Community is an online forum where SMSF Trustees can ask questions, get information, and help others. It is available
24/7, providing SMSF investors with a platform to ask general tax and Super questions at any time and from anywhere.
For more information, please visit the ATO's website.
Do you know?
Term Deposit & ING Bank Account Application Process
You can apply to establish a
Term Deposit Account or an ING Business Optimiser Account via your Client Portal. Upon receipt of your application, the pre-populated application form will be sent to you
immediately. You can return the application form by uploading it to your Client Portal.
Once you click on "Submit", the uploaded documentation will be automatically forwarded to the bank for processing. To avoid
any delays with the processing of your application, please ensure that you have included ALL of the following documentation:
- Completed and signed Application Form
- A copy of the linked Bank Account Statement
- Certified identification for all applicants
If you have forgotten your Client Portal login password, you may follow the steps below to reset your password:
You may then follow the prompts to reset the password and log in to your Client Portal.
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