www.esuperfund.com.au

2017 October Client Newsletter


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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.


Mark Needham

Client Services Manager

Feature

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.

 
 

Valuation of SMSF Assets

Asset valuation is a key component in preparing meaningful SMSF financial reports. Its importance has also been highlighted with the $1.6 million Transfer Balance Cap and $1.6 million Total Superannuation Balance that took effect on 1 July 2017.

The general valuation guidelines and the specific requirements for asset classes are summarised on our website.

What's New

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:

Password Reset

If you have forgotten your Client Portal login password, you may follow the steps below to reset your password:

1. Access the Client Portal at https://clientportal.esuperfund.com.au/

2. Click on "Forgot Password" under the Login button

3. Enter the registered email address for your SMSF

You may then follow the prompts to reset the password and log in to your Client Portal.

Testimonials

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I have been an ESUPERFUND client for some years now and recommend them highly. Their attention to every detail is exemplary, which is only matched by their staff who are ready, willing, and able to answer and recommend solutions to any queries. Every SMSF should be using ESUPERFUND.

 
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