15 July 2010

Do you understand your responsibilities as trustee of your self managed superannuation fund?

Recent activity by the ATO reveals they are paying attention where Trustees are not complying with Self Managed Superannuation Fund (SMSF) regulations. Although Overells can assist with handling many of the administrative aspects, there remain a number of obligations trustees can not delegate to others.

To assist SMSF trustees better understand the complexity of their role, a free online training tool has been developed by the accounting bodies.  

The program steps through each element of the ATO's SMSF trustee declaration such as your responsibilities, investment restrictions and accepting contributions. The simple scenarios and charts make this program easy to work through.

Once completed, a better understanding of your role as trustee will also provide for effective management of your SMSF.

Click here to access this program and use the following details to login:

Password:     trustee

Please contact us with any queries regarding the above.

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This Newsletter, of necessity, has dealt with matters of a technical nature in general terms only. Clients should contact us for detailed information on any of the items in the Newsletter. No responsibility for loss occasioned to any person acting or refraining from acting in reliance upon any material in this Newsletter can be accepted by any member or employee of the firm.

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