New Releases

Documentation Suite

• SMSF Establishment Deed and SMSF Deed of Variation – Governing Rules enhanced:
  • Clearer defined hierarchy of death benefits payments.
  • Provisions for an Enduring Power of Attorney (EPOA) to be able to amend Binding Death Benefit Nominations (BDBNs) and reversionary pensions under certain circumstances.
  • Allows the Trustee to deal with lost Deeds, rules, and other documents of the fund and where law permits to sign a Deed of Confirmation to rely on copies of lost documents.
  • BDBNs are revoked automatically where a spouse is a beneficiary if family law proceedings have commenced (unless the BDBN stipulates otherwise).
  • Income stream provisions have been expanded to specify pension types as well as the conditions of payment for certain income streams to provide greater guidance to Trustees and their advisors.
  • The Trustee powers have been further expanded to provide greater guidance to Trustees and their advisors.
  • Provisions relating to the transfer balance cap and transfer balance account have been expanded for greater guidance for Trustees and their advisors.
• Investment Strategy
  • More closely aligned with ATO requirements, emphasising member specifics.
  • Asset classes available for selection have been updated and are more in line with APRA guidelines.
  • An ancillaries tab has been introduced to the interview form allowing users to select either minutes or resolutions.
• SMSF Holding Trust (Bare Trust)
  • Updated the SMSF Holding Trust  template to SMSF Holding Trust (Bare Trust) as a clear reference for users.
  • SMSF Holding Trust Deed, whilst the provisions have been largely maintained the content has been revised to be more succinct.
  • The Ancillaries (Minutes/Resolutions) are now generated in a separate document pack.
  • The Product Disclosure Statement has been reformatted to an LRBA Explanatory Document.
• Client Legal Review
  • A new tier of Client Legal Review has been introduced specifically for SMSF Deed of Variation at a significantly reduced fee of $125 plus GST.

Fixes and Enhancements

• Resolved an issue where you could not save the Director ID when two directors have the same name.
• We have renamed “Entity Management” to “Trust Register” on the collaboration page when pushing a trust to make it more consistent.

For more information about our latest releases, please click here.