As part of our ongoing commitment to providing the highest quality legal documents and expanding our legal capabilities to meet the demands of our fast-growing client base, we have made further updates to the following documents:
SMSF Deed of Establishment:
- The Deed Schedule has been moved from the end of the deed and relocated to page 3 in order to directly follow the operative provisions in which it references the schedule.
- Improvement to the wording of the deed to replace any reference to Trust to be replaced with Fund to provide clarity.
- Update any references to the SIS Act to include any relevant sections.
- Further clarity on the powers under the deed to appoint or remove a trustee where a legal personal representative is in place.
- Covenants of trustee have been updated to comply with the SIS Act requirements for Trustee duties and powers to be exercised in the best financial interests of the beneficiaries.
- Indemnity of trustees, Cessation of Membership, Borrowing, Insurance clauses has been revamped to provide better clarity.
- The Estate planning clause has been updated to provide further clarity where there is any inconsistency between the terms of a pension, binding benefit nomination or member-directed superannuation benefit plan.
- Update to our PDS to provide for trustee signing page.
- The above changes can be viewed from the Sample document available on the Create Documents page.
SMSF Deed of Variation:
- Incorporates all changes to the SMSF Deed of Establishment.
- Furthermore, the SMSF deed upgrade will allow for the future addition of members to a maximum of 6 members.
Major changes to interview forms:
- Standard Company interview form has been updated to now allow for a non-officeholder to be nominated as the public officer.
- Change of Trustee of Discretionary Trust interview form has been updated to allow for all change of trustee scenarios. Furthermore, the warning has been updated to only advise the service is not suitable where the trust holds the dutiable property.
Minor changes to Deeds:
Minor wording changes were made to better clarify and modernise the following templates:
- Deed of Variation (Exclude Foreign Beneficiaries)
- Change of Trustee of Discretionary Trust
- Change of Appointor
Minor changes to interview forms:
- We have added additional information and tooltips to help better inform users when completing forms for Discretionary Trusts, Discretionary Trust (Capital Reserved Lineal Descendant), Discretionary Trust (Fully Reserved Lineal Descendants) and Change of Trustee of Discretionary Trusts.
- We have made some changes to the way our platform transfers information when companies change ASIC agents. From now on, the incoming agent will only receive company information that is readily available from ASIC, all other historical information will be retained by the outgoing agent as their work product. For the outgoing agent, the system will automatically archive the company that is no longer listed under their agency as well as close any draft forms or tasks related to that company.
- Users can now mark lodged ASIC forms as Signed from the Lodgements page to help them keep on top of tasks related to ASIC form lodgements.
- Form 410 has been updated to remove a question relating to the payment method.
- A warning message has been added to forms B1, B12 and 484 E to notify users that late fees will be applied if they lodge cessation of Director articles with an effective date that is 28 days in the past.
- We fixed a bug where a re-merged annual statement couldn't be located.
- We fixed an issue where some users were receiving a routing error notification.
- Fixed a bug where Edit Online function was not available for Annual Statement solvency minutes.
- Fixed an issue where some customers were having trouble receiving their debt reports.
- Fixed an issue where the text was running off the page for LRBA Suite documents.
- Fixed a bug where some users were unable to mark Trust Distribution Minutes as Signed.
- Fixed a bug where users were having issues received ASIC certificates upon registering a company.
- We fixed an issue where the super fund officer information was appearing twice on the fund export to PDF report.
- We have fixed an issue with the user's access permissions where a user with Draft/Read-Only access to Corporate Messenger was affecting their permissions to access and edit the trust profile in Trust Register as well as using the search capabilities to search for a company from the Companies page.