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
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.
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.
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:
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.
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.
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)