Relevant templates have been updated for the new financial year, including updated Super Guarantee (SG) rates and Transfer Balance Cap details.
The Special Purpose SMSF Constitution has been enhanced to cater for the appointment of a legal representative as director on the death of the director/member.
Execution block
The execution blocks have been updated to comply with current legislative requirements:
for individual trustees/members, now reads "Signed, Sealed and Delivered by the [undersigned] in the presence of:"
for corporate trustees, "Executed by [Company Name _ ACN] in accordance with s127(1) of the Corporation Act 2001", replacing the previous "Executed as a Deed" format. This update applies to the following documents:
Change of Discretionary Trust Name
Change of Unit Trust Name
SMSF Deed of Variation
SMSF holding Trust
Trustee Consent & Member application
Parent/Guardian age verification: The system now ensures that parents/guardian is over 18years of age.
Enhanced Interview form: Added new fields to support scenarios with a sole director and secretary, ensuring compliance with Section 127 of the Corporation Act:
For sole director and secretary roles, the name is now displayed as "Sole Director and Secretary"
For separate director and secretary roles, separate signature fields have been added for each, with the Secretary's name and signature field positioned alongside the Director role.
Corporate Messenger
A signed date can now be entered that is before the form creation date, provided the signed date is after the form's effective date and in line with other ASIC date specifications. This change also enables paper signing of 484 forms on the company registration date.
The declaration of trust warning and associated documents have been removed when nominating shares for third-party ownership in Form 484B, C, or E. This change aims to prevent potential revenue/stamp duty implications arising from trust declarations in documentation.
‘Consent to be a member and hold shares’ has been removed from 484C2,E when issuing shares to existing members as the share application itself serves as the consent.
Super Comply
Where the Trustee of the fund is also a member, we’ve enhanced the automated sync between Trustee and member details, so any updates to the Trustee name will update the corresponding member details. Where the member is not a Trustee, the member names can be edited at the member level.
Fixes and Enhancements
Updated the Share Transactions table to correctly display share reductions (eg. ‘Transfer From’ or cancellation) with a minus symbol.
Fixed an issue where the ‘total amount paid/unpaid’ for share holdings could not be correctly entered, if the value included numbers after a decimal point.
When sending Annual Statements for signature, any custom documents included now correctly appear as attachments in the e-mail and e-signing link.
When a 484 form is lodged to update an individual officer name, it will now also automatically update the officer’s name in the billing/signing section of the company profile.
Fixed an issue where users could add additional members to a ‘Sole member’ fund with individual Trustees. Only the first Trustee will now be included as the member.
The documents for sole director/member companies were updated to reflect that only directors can appoint or remove secretaries.
Resolved an issue where the Slimline and Binder options in the printing section of standard company forms incorrectly implied the number of copies produced - the wording now clarifies that only two copies of the constitution/deed are provided with the Slimline option and three copies with the Binder option.Fixed an issue where the page numbering on the annual statement PDF displayed incorrectly; the numbering now accurately reflects the total number of pages.
Resolved an issue where marking Form 492 as signed triggered an error when the related company profile was not linked. Previously, clients encountered 'Error: Date of Signature cannot be prior to Company Registration Date.' Now, clients can smoothly mark documents as signed without this error.
For ASIC forms, the ‘Back to Form’ option has now been fixed to take the user back to amend the form detail if required.
Resolved an issue where ASIC forms involving director changes would not generate where the name of one of the directors included an apostrophe.