Welcome to ESUPERFUND’s September Newsletter.
In this issue, we remind you of your Online Checklist Submission. We also take you through related party transactions. Additionally, we inform you of new free SMSF education courses approved by the ATO. Next, we advise you on how to access documents in the Client Portal. Finally, we draw attention to some Rollover related FAQs.
Client Services Manager
If you established your SMSF before 1 July 2017, you will be required to complete the Online Checklist to enable our office to prepare your SMSF’s Annual Return.
To ensure prompt lodgement of your SMSF’s Tax Return, please complete and submit the Online Checklist via the Client Portal at your earliest convenience.
In order to submit the Online Checklist, you will need to complete all the sections, and then click on the submit button on the “Submit” page. Please note that you are required to submit the Checklist even if your SMSF did not have any transactions in the 2017 Financial Year.
To view Annual Checklist FAQs, please visit our August Client Newsletter.
Your Fund cannot acquire an asset from a related party unless it is acquired at market value and is:
For more information, please visit the ATO’s website.
New SMSF Education Courses are available for free on the ATO’s website.
If you are a new SMSF trustee, or would like to upgrade your knowledge, you are encouraged to undertake these courses to improve your understanding of SMSF trustee obligations.
We advise that a list of all relevant documentation relating to your SMSF is available in your Client Portal under the menu tab “Documents – All Documents”. To view and download the documents including Trust Deed, Investment Strategy, Annual Compliance Documents, Rollovers, and other documentation, please click on “View” in the document column, and then “Print”.
Once your SMSF has been established, you will be able to transfer your existing Super Benefits to your new SMSF.
To the extent that you wish to rollover the Whole Balance of your Super Benefits to the SMSF, please complete an ATO Rollover Initiation Form and forward it to your current Superfund for processing.
To the extent that you wish to do a Partial Rollover, you will need to contact your current Superfund to request a Partial Rollover Form. The ATO does not have a Partial Rollover Form at this time.
For more information, please visit the Rollovers page on our website.
The USI is not applicable to SMSFs and ideally this field should be completed as “Not Applicable”.
Should your Rollover Cheque be posted to our address, our office will notify you via email, and deposit it to your Fund’s bank account upon receipt. Please allow 3 days for the cheque to be cleared and to appear in your Fund’s bank account. If you do not receive a notification from our office, please contact your current Superfund directly for further information as we will be unable to assist.
We advise that you may contact your current Superfund for a detailed timeline of the Rollover process, as the processing time varies between Superfunds.
If your current Superfund processes the Rollover via electronic funds transfer, the Rollover amount will be credited to your Fund’s bank account directly. You will be provided with a Rollover Benefits Statement (RBS) by your current Superfund. Please retain this document as it will be required for the Annual Compliance Process.
If your existing Superfund sends your Rollover Cheque to our address, ESUPERFUND will deposit the cheque directly to your CBA Accelerator Transaction Account immediately upon receipt. It normally takes 3 business days for the cheque to be cleared and to appear in your Fund’s bank account. Should your existing Superfund send the Rollover Cheque to you directly, please ensure that the cheque is deposited to your Fund’s bank account upon receipt.
We have been with ESUPERFUND since October 2013, and have found both the system and the service excellent. Their website is extremely informative and all my questions have always been answered on the same day or the next. We had 116 transactions last financial year, and 210 the year before, but it was no strain to us to complete the checklist at the end of the financial year so ESUPERFUND could complete the tax return. The system is not too complicated and there is ample help both on ESUPERFUND’s website or via Inbox. Highly recommended.
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)