A selfmanaged super fund smsf trustee declaration is an australian taxation office ato document that summarises the duties and obligations of an smsf trustee or director. To be completed by new trustees and directors of corporate. Ato trustee declaration nat71089 from 1 july 2007, all new trustees and directors of corporate trustees of an smsf are required to sign a declaration, in the approved form, within 21 days of becoming a trustee or a director of the corporate trustee. Tr 20089 legal database australian taxation office. Day month year date for wa, sa, nt, vic or tas australian taxation office po box 795 albury nsw 2640 return the completed original ato copy to.
The superannuation information forms are for use by the trustee of the superannuation plan. A legal personal representative who holds an enduring power of attorney granted by a member may become a trustee or a director of the corporate trustee of the smsf in place of the member. The trustee declaration is not the same as your funds trust deed. Between july 2007 and march this year there have been about. You must complete this declaration if you became, on or after. The ato asks trustees to remember that even if you have an administrator or an smsf professional managing your fund. It is a separate document you must complete and sign. Read this declaration in conjunction with selfmanaged super funds key messages for trustees nat 71128. From 1 july 2007, expanded administrative penalties may be applied where funds fail to advise the ato of a change of trustee, or other changes to the fund. The declaration is to make sure trustees understand their obligations and responsibilities. To learn more about trustees duties and responsibilities, view the ato fact sheet. An introduction to selfmanaged superannuation funds part ii trustee declaration new trustees or new directors of corporate trustees appointed from 1 july 2007 need to complete and sign a trustee declaration within 21 days of becoming a trustee, or a director of the corporate trustee. Fully completed official tax office form nat 3036, notifying the tax office of the change in trusteeship and membership where applicable. Osr duties statutory declarations change of trustee no.
A trustee declaration is required to be completed and signed by all trustees of an smsf when they are added to an smsf. An essential guide to self managed super funds morgans. Then, following receipt of an application from the member or, if the member is deceased, the spouse, dependents or the legal personal representative or, in the trustee s discretion, the next of kin of the member and completion of whatever inquiries the trustee considers necessary to ensure that the application is true and correct, the trustee. The form 6 declaration must accompany a superannuation information request form to satisfy the trustee that information is being sought by eligible persons for an approved purpose. Ato has made changes to trustee declaration nat 71089 and. Trustee declaration from the ato after 1 july 2007 s104a trust deed consent to act as trustees and member applications investment strategy the basic format is to have financial statements, a tax return, supporting documentation and then the permanent documents for your smsf. If the ato feels that an smsf trustee doesnt understand their obligations, including those set out in the trustee declaration, the ato can direct you to undertake an education course. Atos 200708 compliance program 12 fbt, gst and income tax rulings 14. Ato trustee declaration forms for trustees appointed after 1 july 2007. Change of trustee no change in rights statutory declaration complete this declaration when claiming a transfer duty exemption for a change of trustee that does.
From 1 july 2007, if you are a new trustee or director of. The declaration aims to ensure that new trustees understand their obligations and responsibilities. Since 1 july 2007 superannuation law has required that each person becoming a trustee, or each director of a company which acts as trustee, of a self managed superannuation fund. Download free printable change of trustee form samples in pdf, word and excel formats. Trustee declaration to be completed by new trustees and directors of corporate trustees. Change of trustee form 2 free templates in pdf, word, excel. Instructions and form for smsf trustees trustee declaration to be completed by new trustees and directors of corporate trustees of selfmanaged super funds. The ato asks trustees to remember that even if you have an administrator or an smsf professional managing your fund you are still the. You must complete and sign this declaration within 21 days of.
Au directors for the corporate trustee where applicable. Change of trustee no change in rights statutory declaration complete this declaration when claiming a transfer duty exemption for a change of trustee that does not change the rights or interests of beneficiaries. Trustee declaration to be completed by new trustees and directors of corporate trustees of selfmanaged super funds. Instructions and form smsf trustees australian taxation office. Smsf trustee declaration form just released and obligatory. Ato trustee declaration and key messages for trustees form for each new trusteedirector. Statutory declaration change of trustee form free download. Zu08497 v4 0719 kdeg0001692007 tax file number notification form important information superannuation law requires you to provide your tax file number tfn to the trustee in order to make nonconcessional contributions and to avoid paying excessive tax. You must complete this declaration if you became, on or after 1 july 2007, a new trustee or director of a corporate trustee of. Once you sign the document, you declare that you understand your obligations and responsibilities not just as a trustee but also in managing and running your smsf. Australian tax office ato, as at june 2011, there were more than 455,000 smsfs. Instructions and form for smsf trustees we strongly recommend you undertake a free trustee education course before reading and signing this.
The definition of australian superannuation fund in subsection 295952 was inserted into the itaa 1997 by the tax laws amendment simplified superannuation act 2007. Change of trustee form 2 free templates in pdf, word. The main purpose of the declaration is to ensure that new trustees or directors of a corporate trustee understand their duties and responsibilities when running an smsf. Each trusteedirector of an smsf must sign a trustee declaration within 21 days of their appointment to. Q if an smsf that was established before the 1st july 2007 decides to. Guide for smsf trustees role and responsibilities of trustees operating a self managed superannuation fund smsf. Change of trustee no change in rights statutory declaration. Self managed super funds smsfs trustee declaration impact of super simplification offshore voluntary disclosure frequently asked questions time limits on gst refunds is interest on foreign investments quarantined. Policy intent of the superannuation fund residency requirement. Self managed super funds key messages for trustees.
This publication excluding appendixes is a public ruling for the purposes of the taxation administration act 1953 a public ruling is an expression of the commissioners opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular. Benefit payments please provide member written requests and trustee minutes which detail the type of the benefit and the condition of release that was satisfied. Selfmanaged super fund trustee declaration i am responsible for ensuring that the fund complies with the superannuation industry. Resources tactical super australian smsf audit specialists. Instructions and form for smsf trustees trustee declaration to be completed by trustees and directors of corporate trustees. Ato has made changes to trustee declaration nat 71089.
The declaration must be signed within 21 days of someone becoming a smsf trustee and they must keep a copy for at least 10 years. Benefit payments please provide member written requests and trustee minutes which detail the type of. The ato will have responsibility for ensuring that self managed. I must ensure this document is retained for at least 10 years or while i remain a trustee or director of the corporate trustee whichever is longer and, if i fail to do this, penalties may apply.
The form trustee declaration nat 71089, pdf, 228 kb this link will download a file can be downloaded in portable document format pdf. It replaced the definition of resident superannuation fund in former section 6e of the income tax assessment act 1936. Smsf trusteesdirectors are responsible for their funds compliance with superannuation legislation. The australian taxation offices approach to regulating and. Consents by each individual to act as trustee or director of the corporate trustee. Trustees of charities in england and wales should complete and sign this form to confirm their eligibility to be a trustee. This rule generally doesnt apply to funds set up prior to 1 july 2007.
Instructions and form for smsf trustees we strongly recommend you undertake a free trustee education course before reading and signing this declaration. Once you sign the document, you declare that you understand your obligations and responsibilities not just as a. All members of an smsf must be a trustee of their fund, or a director of the company if the fund is set up with a corporate trustee structure. An smsf trustee declaration is an australian taxation office ato document that summarises the duties and obligations of an smsf trustee or director. May 01, 2020 an smsf trustee declaration is an australian taxation office ato document that summarises the duties and obligations of an smsf trustee or director. Trustee declaration to be completed by new trustees and directors of corporate trustees of self. Ato has made changes to trustee declaration nat 71089 and selfmanaged super funds key messages for trustees nat 71128. Further, the australian securities and investments commission asic. The ato has recently revised these documents and in doing so has made some interesting changes to the trustee declaration, the key messages statement, the disclaimer that smsfs are not covered by the financial assistance scheme and the warning that trustees should regularly assess whether an smsf is or remains appropriate for the members. A separate declaration is required to be completed and signed by each and every new trustee.
An smsf trustee declaration is a key document that highlights the duties and responsibilities expected of every trustee by the australian taxation office. Key messages for trustees nat 71128, pdf, 103kb should be read in conjunction with. Detailed information on how to have the change of trustee documentation stamped by the s. This declaration is not required for an mcs or amended mcs for 200607 and earlier financial years. A separate declaration is required to be completed and signed by each and every trustee.
I declare that the information i have given is true and correct. If your fund has a corporate trustee, it is an smsf if all of the following apply. You must complete this declaration if you become a trustee or the director of a corporate trustee of a new smsf or of an existing smsf. For nsw, qld or act australian taxation office po box 9004 penrith nsw 2740. The preference is if you email this to superannuation warehouse. All trustees and directors of corporate trustees of a smsf are required to sign a trustee declaration.
A trustee declaration is required to be completed and signed by all trustees of an. Copy of new trustee declaration for new trustee from 1 july 2007 download this from the ato, to protect all trustees and members copy of fund member application forms required when audit conducted by auditor for the first time or if new members join during the period copy of consent to act as trustee documents required when audit conducted. Superannuation company declaration 4 september 2007 company name. Regime fiscal des trusts en france etudes fiscales. Trustee declaration to be completed by trustees and directors of corporate trustees of selfmanaged super funds.
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