Author Archives: Jinny Coyle

Does your Self Managed Superannuation Fund (SMSF) comply with SuperStream?

What is it?

SuperStream is the payment and provision of contribution data in an electronic standard format.

It requires all employers to make payment and provide details of the contribution payment and type, members name and their Tax File Number and the contribution amount to an SMSF via an electronic service address (ESA).

Also, SuperStream is required for;

• Rollover of funds to an SMSF (from other Super Funds);
• Rollover of funds from an SMSF (windup);
• First Home Super Saver (FHSS) scheme approved release of funds.

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Why do I need to update my SMSF Deed?

The purpose of a Self Managed Superannuation Deed (Deed) is to provide retirement benefits to its members. It is a legal document that sets out the rules for establishing and operating a Self Managed Superannuation Fund (SMSF). The SMSF is governed by the Deed and superannuation laws. The Deed is not a “sign and forget” document, therefore if the Deed is not up to date, it may be restricted on executing your specific requests or transactions while the SMSF is in operation.

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