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Fees & Packages

Self Managed Super Funds

Deed:

The Deed for each superannuation fund we produce has been subjected to regular and frequent review by a specialist superannuation solicitor. It is up-dated to have regard both to the changing laws and to make the Deeds as user-friendly as possible.

The last major up-date was completed in April 2008 and this provides for the new account–based pension which will become available as from 1st July, 2007. All other legislative and other initiatives are included in this Deed, including:–

• spouse contributions and spouse splitting; 
• acceptance of government co–contributions; 
• binding death nominations with permanent tenure; 
• provision of investment choice for members; 
• prohibition on fees being paid to the Trustee; 
• reduced actuarial requirements on allocated pensions; 
• incorporation of in-house investment rules; 
• use of custodian trustee; 
• the introduction of interdependency relationships as a means of defining a Dependant; 
• Introduction of internal roll–backs; 
• Acceptance of contributions for deceased member; 

• Deceased member’s LPR may act as their trustee.

 It is imperative that your superannuation fund qualifies as a self-managed superannuation fund. If that is not the case, the fund will be required to have an independent trustee - an expensive requirement which will remove control from the principals of the fund.

If, when ordering a superannuation fund from us, we cannot be sure that the fund will qualify as a self-managed superannuation fund, we are happy to discuss the matter with you.

A self-managed superannuation fund is determined mostly by looking at the members and trustee(s) of the fund.

For funds with two to four members:

Individual trustees: All members must be trustees and all trustees must be members. There is no need for the members to be related unless one of the members is the employer of another member; or

Corporate trustee: All members of the fund must be a director of the corporate trustee and all directors of the corporate trustee must be members of the fund. There is no need for the members to be related unless one of the members is the employer of another member.

For funds with one member:

Individual trustees: The sole member must be one of two trustees; the other trustee can be any person but cannot be the employer of the sole member unless that second trustee is related to the sole member; or

Corporate trustee: The sole member of the fund must be the sole director of the corporate trustee - or must be one of two directors of the corporate trustee, where the second director can be any person but cannot be the employer of the sole member unless that second director is related to the sole member.

Trustee:

There is no legal requirement for the trustee to be a company. Under most circumstances, there is no need to use a company for this purpose. For most superannuation funds, the most economical and convenient Trustee will comprise each of the members of the Fund.