Services – TP Super Solutions

Our super services are as follows:

Fund Establishment

• 2 copies of the trust deed (extra’s supplied on request at no charge)
• Minutes establishing the fund, admitting members and formulating an investment strategy.
• Membership application forms.
• Death benefit nomination forms (binding or non-binding).
• Product Disclosure Statement.
• Consent to act as trustee declarations.
• Sample Investment Strategy.
• A checklist of various do’s and don’ts regarding your SMSF.
• Application for an Australian Business Number (ABN) and Tax File Number (TFN) and when applicable, Goods and Services Tax (GST) with the ATO.

If you choose to have a corporate trustee instead of individual trustees then we can also organise for a corporation to be established and registered with ASIC.

The turnaround time for the establishment of a SMSF and corporate trustee if applicable is typically one day. Once the paperwork is signed by the trustees, the ATO usually then issues an ABN/TFN within 7-10 working days.

Administration/Compliance

Our administration and compliance services include the following:

Annual

• Preparation of annual financial statements (or ad-hoc statements when requested)
• Preparation of member statements detailing preservation components as well as tax free/taxable components.
• Preparation and lodgement of the SMSF Annual Return.
• Maintenance of minutes relating to trustee decisions.
• Reviewing investment strategy to ensure that investment decision are made in accordance with the strategy.
• Liaising with the ATO when required relating to income tax matters, lodgement obligations and any audit requests made by the ATO.
• Maintenance of Capital Gains Tax (CGT) transactions including dates and amounts relating to asset acquisitions/disposals.
• Recording and maintaining details relating to tax free and taxable components of member benefits via contributions or previous rollovers from other super funds/employers.
• Ensuring minimum/maximum pension obligations have been met.
• Responding to routine queries from trustees/members regarding any facet of the SMSF. Phone calls, E-mails or faxes are usually responded to within 24 hours.
• Ensuring the fund is conducted in accordance with its rules (trust deed).
• Liaise with fund Actuary (when required) regarding exempt pension income and various complying pensions.

Other

In addition to the annual services provided we also attend to:

• Preparation and lodgement of quarterly Instalment Activity Statements or Business Activity Statements
• Documentation to commence pensions from the SMSF including account based pensions, transition to retirement pensions and term allocated pensions. Typically includes minutes, member requests, and reviewing of the trust deed to ensure compliance.
• Documentation to convert existing allocated pensions into account based pensions. Typically includes minutes, member requests, and reviewing of the trust deed to ensure compliance.
• Documentation relating to lump sum withdrawals (not relating to pensions) made by fund members. Typically includes minutes, member requests, and reviewing of the trust deed to ensure compliance.
• Preparation of ‘Notice of intent to claim a tax deduction for superannuation contributions’ when personal tax deductible superannuation contributions are made by members.
• Acknowledgment of receipt of personal tax deductible contributions made by fund members.
• PAYG Withholding registration (when required)
• Preparation of PAYG summaries and annual PAYG Summary Statement (when required)
• TFN declarations (when required)
• Small business exemption election forms relating to Capital Gains tax concessions for proceeds in relation to the sale of a small business contributed into superannuation.
• Winding up your SMSF (when requested) and finalising all lodgement requirements with the relevant bodies.
• Provision of ‘audit only’ services for trustees or accounting firms whom are unable to meet the independence requirements set out by the various regulatory bodies.

Can we help you?

If you have any questions or would like to arrange an assessment with one of our experienced advisors, call us on (02) 8224 8000 or click here to contact us online .