SUPERCentral Pty Ltd. The company's legal needs in superannuation, estate planning and financial services are exclusively provided by TOWNSENDS BUSINESS & CORPORATE LAWYERS. The leading edge SUPERCentral system was granted an Australian patent in 2008 and is monitored and protected.
SUPERCentral is Australia's leading online SMSF Deed Update Service specifically designed to assist Accountants, Financial Advisers and SMSF Administrators save time and money.
Back Issue Newsletters
Media
- Managing business succession - Professional Planner by Tony Negline
- Ethical super rules against sole purpose test - Investor Daily
- Bare trusts should use corporate trustees - Investor Daily
- Loans the lifeblood of self-managed funds - The Australian by Tony Negline
- Smart gearing will help cover your assets - The Australian by Tony Negline
- Clients forgiving towards advisers over losses - Money Management by Peter Townsend
- SMSFs vs. POFs - Super Living by Peter Townsend
- The Super Game - The Australian
- Retirees precious capital - Sydney Morning Herald
- Super pension in a financial downturn - SMSF by Michael Hallinan
New ATO Trustee Declaration Form Released
20/04/2009
The ATO has updated the Trustee Declaration Form and released a new version.
The current version (February 2009) replaces (June 2007).
The material change to the form has been in the text relating to investment restrictions. The relevant text reads:
‘I understand that, as a trustee or director of the corporate trustee of the fund, subject to certain limited exceptions specified in the law, I am prohibited from the following:
- borrowing money (or maintaining an existing borrowing of money) on behalf of the fund except in certain limited recourse borrowing arrangements’
The change has been made in light of the amendments made in September 2007 to the SIS Act, which now permits trustees of regulated superannuation funds to borrow, subject to certain requirements being satisfied, including the requirement that borrowing be on a limited recourse basis.
The new version of the ATO form is available in the SUPERCentral Toolkit.