Issue 11 | 16 February 2015
Welcome to ESUPERFUND’s February Newsletter.
In this issue we explain which SMSF’s have to lodge their tax returns by the end of February. We look at how to track the progress of the preparation of the tax return via our Client Portal plus we look at some other features available in the Client Portal. There are also some ATO videos that deal with contribution caps and the sole purpose test.
Client Services Manager
Which SMSF’s are required to lodge their annual tax returns by 28 February 2015
If your Fund meets either of the criteria below then the annual tax return is due for lodgement by 28 February 2015 otherwise the due date in most other cases is 15 May 2015.
If your Fund was established and had transactions between 1 July 2013 and 30 June 2014.
If your Fund was established between 1 July 2012 and 30 June 2013 but the first transaction was made between 1 July 2013 and 30 June 2014.
You can check the tax return due date for your Fund by logging into the Client Portal and visiting the “Annual Compliance” page.
How can I track the preparation of the annual tax return via the Client Portal?
You can also track the preparation of the annual tax return by visiting the “Annual Compliance” page via the Client Portal. The “Status” column shows the progress of the annual tax return and the action required from you.
Waiting on Checklist - You need to submit the Online Checklist to enable our office to complete the annual tax return.
Being Prepared - We are currently finalising the annual tax return.
Ready for Signing - We have completed the annual tax return and require you to sign the compliance documentation.
Ready to Lodge - We have received the signed compliance documentation and will lodge the annual tax return shortly.
Complete - We have lodged the annual tax return on your behalf.
New SMSF Videos Released by the ATO
The ATO recently released new SMSF videos that are designed to help you understand the rules around super contribution caps and also understand the very important Sole purpose test.
Super Contribution Caps
What are super contribution caps? Learn more about the types and limits on super contributions and trustee responsibilities.
Sole Purpose Test
Learn more about the sole purpose test and what it means to your SMSF investments.
Do You Know?
ESUPERFUND’s Client Portal has a number of features available to clients
We are continually improving and adding more features to the Client Portal. We have listed a summary of the current features available.
Checklist - On this page you can access the Online Checklist.
Applications - On this page you can update your contact details, apply for a Term Deposit, Property Loan, Binding Death Agreement, Centrelink Schedule and add a Bank or a Broker.
Compliance - On this page you can track the progress of the annual tax return and view and download the annual compliance documentation.
Trust Deed, Investment Strategy & Death - On these pages you can view and download the Trust Deed, Investment Strategy & Binding Death Agreement for your SMSF.
Fees - On this page, you can access the Fees history for your Fund.
I will mention how much I appreciate the efficiency and attention to detail I am experiencing as a client of ESUPERFUND. Also, being able to use your service as a one stop point for compliance and information makes my responsibility as a Director so much easier. It is in marked contrast to my previous arrangements.
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