You must first determine who will act as Trustee of the fund You will then need to have a Trust Deed and associated documents prepared (Supernova provides this service) Open a bank account in the funds name Transfer benefits and or contributions into the fund
You just need to give us certain documents such as: The current software file if available Prior year audited accounts and tax return Trust Deed and investment strategy and other fund pemaent documents We will set up the fund ready for preparation of the
08 Feb 2016 By Krystine Lumanta A successful outsourcing and offshoring relationship depends greatly on the qualifications and experience of the staff processing the SMSF work. “At the end of the day, we fall back on the quality and the training [of our staff],” BPO
08 Feb 2016 By Darin Tyson-Chan The latest ATO statistics regarding the SMSF sector provide clear evidence self-managed funds are enjoying the benefits of scale. The annual report released by the regulator, “Self-Managed Superannuation Funds: A Statistical Overview 2013-14”, revealed a direct correlation between the
According to the ATO, in 2012-13 over 200,000 SMSF’s (45%) reported some portion of exempt current pension income (ECPI)?* This equates to $16.8b of SMSF income exempt from income tax. So there is no doubt that the ATO will want to ensure pension funds satisfy the
If you hold collectables and personal use assets in your SMSF, then you need to ensure you are aware of the additional requirements that come into force on 1 July 2016. According to the ATO, collectables and personal use assets are things like artworks, jewellery, vehicles,
