New SMSF
The current superannuation and taxation legislation recognises two types of small superannuation funds with less than seven members:
- SMSFs
- Small Australian Prudential Regulation Authority (APRA) funds
All funds established by Constitute are structured as personal SMSFs and enable the fund to become a regulated complying superannuation fund. The trust deed and documents are designed to assist the trustee to comply with the regulatory requirements.
The online New SMSF order form captures all of the required information to setup the trust structure. The smart forms help guide the user through the process to ensure the clients requirements are reflected and the rules are complied with as best as we can, such as enforcing that all members are also trustee/s where possible.
When deciding whether to adopt individual or a corporate trustee structure, it may be useful to consult the ATO or our article, Individual vs Corporate Trustees.
New SMSF documentation will be prepared in accordance with the order form and will usually include:
- New SMSF Deed
- Covering Letter
- Deed of Establishment
- Death Benefit Notices
- Application for Membership
- Consent to act as a Trustee
- Resolution- Acceptance of Role as Trustee
- Resolution – Acceptance of New Members
- Trustee Declaration/s
- Notice of Compliance (sample)
- SMSF Investment Objectives and Considerations
- Product Disclosure Statement
- SMSF Documentation Summary
- Key messages for trustees
