We can provide documents to update the Governing Rules of your Self Managed Superannuation Fund. If you wish your superannuation fund to borrow money to invest through an instalment warrant arrangement an update is important. As solicitors, we will review your existing Deed to ensure the update is compliant with the terms of the existing Deed and the update is compliant with the terms of any existing pension arrangements. Further, we provide advice on the documentation you receive and the particular situation of the Fund.
We prepare documentation to appoint and remove trustees of a Self Managed Superannuation Fund including a Deed, relevant minutes and all necessary consents. Additionally we review the Governing Rules of your Fund to ensure they permit the change of trustees and that the changes are consistent with those provisions. Please contact us for more information.
We can prepare documentation to admit a new member to your self managed superannuation fund. The costs involved will vary depending on whether you have a PDS which may be provided to that Member or whether we are required to prepare one, and whether that member needs to be added as a trustee or not.
Financial institutions will require a special trust to be created to enable a superannuation fund to borrow under s67A of the SIS Act. We prepare such trusts and additional documentation required including minutes. You can download an instruction form for this documentation on the Instruction Forms section of this web page.
Under some governing rules, you may be required to have a corporate trustee before your Fund can enter the pension phase. SMSF with Individual Trustees must provide that: the sole purpose of the fund must be to provide old age pensions whereas a SMSF with a Corporate Trustee does not require this particular sole purpose.
Whilst having Individual Trustees does not generally preclude the payment of lump sums, the matter has not been considered by the High Court. Read APRA Superannuation Circular No III. A.1 (Sep 2000) for further information available Here...