Trust Deeds

The Trust Deed is specially drafted for a SMSF - regulated by the ATO. It accommodates employer sponsored, self employed, personal and spouse contributions. As well as the normal provisions required of a Trust Deed it contains a number of features that address recent legislative changes as well as emerging issues highlighted as follows:

Benefits:

A pension can commence to be paid either on the member's retirement or where the member is still employed on or after the member attains age 55. Alternatively, a Member on retirement may elect to receive a lump sum payment or to receive their benefits in the form of a transfer of assets.

Binding Nominations:

The Deed permits members to give binding directions to the Trustee for the payment of death benefits.

Contributions:

The Deed permits splittable contributions to be allocated to the member's spouse. The Deed also permits contributions be made in-specie.

Directions:

In addition to permitting binding death benefit directions, the Deed permits members to give the Trustee directions about investments, subject to the Fund's investment strategy.

Investments:

Subject to the Fund's investment strategy, the Trustee has a wide discretion to choose Fund investments. The Deed also permits the Trustee to offer choice of investment strategy.

Membership:

The Deed requires the Trustee to comply with the SIS Act. This requires, for a SMSF, all members to be trustees.

Residency:

The Fund will cease if it fails to be a resident superannuation Fund, this measure is aimed at avoiding the fund becoming a non-complying fund as a result of it becoming a non-resident fund. The Deed however does permit non-residents to be members provided they do not cause the fund to become a non-resident superannuation fund.

Reserves:

The Deed permits the Trustee to establish reserve funds as an investment reserve with the objective of smoothing investment returns credited to members.

Sub-fund:

The Deed permits the creation of "Sub-plans" for particular members or classes of members.

Spouse Contributions:

The Deed allows a person to make spouse contributions to the Fund.

Trustee:

The Deed provides that a person who becomes a "disqualified person" ceases to be a trustee and also provides a mechanism for the replacement / appointment of trustees.

To establish a Self Managed Superannuation Fund please click here.

To vary the Deed for a Self Managed Superannuation Fund please click here.