Transferring Benefits between funds

Transferring from retail fund to an SMSF: Most retail funds will have a “Benefit Rollover Request”¬†form on their website which can be used to request a rollout of funds. You are able to rollover the full balance from your retail fund or a partial amount if you would like to keep the retail fund open.… Read More

Documentation Requirements

Permanent Records: SMSF Investment Strategy SMSF Binding Death Benefit Nomination (non-lapsing) Trustee Declaration of understanding duties and responsibilities Must be signed within 21 days of new fund setup Property title search from relevant government body for any property investments Pension Minutes Records to be held for at least 5 years: Accounting Records Annual financials and… Read More

Steps to start a new SMSF

The ATO provides a comprehensive guide to starting an SMSF. Decide on Trustees for the fund – Individuals or a Corporate Trustees Establish the trust and trust deed Appoint the trustees Register the fund Setup a bank account Obtain an electronic service address (in order to make contributions) Prepare an exit strategy It is highly… Read More

Contribution Caps Quick Guide

The contributions caps are as follows: Contribution Cap 2015 2016 2017 2018 Concessional Under 49 $30,000 $30,000 $30,000 $25,000 Concessional Over 49 $35,000 $35,000 $35,000 $25,000 Concessional All ages $25,000 Non-Concessional under 65 $180,000 – up to $540,000 over 3 years $180,000 – up to $540,000 over 3 years $180,000 – up to $540,000 over… Read More