Legal documents to establish SMSF, APSS251 or QROPS SMSF, Excel spreadsheets, change trustee of SMSF

Is smsfcorppack the package you need?

• Only use the pack to set up an SMSF with a corporate trustee.
• The trust deed establishes an account based fund (an accumulation fund, which is the usual type of smsf), into which you personally, or your employer, can make contributions. You can rollover (transfer-in) money from other superannuation funds. You can't get the money out until an event as permitted by law. You and up to three others can be members of the fund.
• The trust deed links up with the corporate constitution also included.
• All documents have been carefully and professionally drafted to accord with the latest superannuation law and to provide maximum flexibility and robustness in the face of all possible eventualities and changes in the law. You will be purchasing this directly from the person who drafted it, providing you with security and assurance.
• The detailed step-by-step guide (opens in new window) and document templates should minimise any pitfalls.
• You will need to lodge the documents yourself.

Contents of SMSF set up pack using corporate trustee (smsfcorppack)

• smsf corp trust deed
• smsf company constitution, consents, resolutions
• detailed instructions for all government, fund and company forms
• sample investment strategy corp 1-30
• full product disclosure statement corp
• member application documents and acceptances
• registers: members of company, members of fund
• establishment costs election (to deal with set-up costs)
• certificates of compliance: for employers and for transfer/rollover
• binding death benefit nomination and expression of wishes
• rollover request form
• pension request forms: transition to retirement, after age 65, retirement
• resolutions: (bank account, stockbrokers, rollover)
• Excel spreadsheets producing financial statements and tax details from your data
• detailed step-by-step guide (opens in new window) giving the sequence to follow, and how to complete each form and complete each step
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• after sales support: see description

Establishment fees
Apart from incidental costs like stationery, printer consumables and photocopying, the only additional fee is paid to the ASIC on registering the corporate trustee. From 1 July 2024 the fee is $597.
Although the establishment fees cannot be deducted within the fund for tax purposes, they can either be repaid to you by the fund once it is established, or treated as a contribution to the fund. Details and an option form are in the set-up pack.
Annual costs
ASIC annual review fee - from 1 July 2024 this is $65
Optional financial adviser's and accountant's fees - varies
Obligatory auditor's fee - varies
ATO supervisory levy - from 1 July 2024 new funds pay $518 to file the first annual return, and $259 per annum after that
These can all be deducted within the fund for tax purposes.

Last updatedupdated on 7 April 2022 and current for your date of purchase

Is smsfindivpack the package you need?

• Only use the pack to set up an SMSF with individual trustees.
• The trust deed establishes an account based fund (an accumulation fund, which is the usual type of smsf), into which you personally, or your employer, can make contributions. You can rollover (transfer-in) money from other superannuation funds. You can't get the money out until an event as permitted by law. You and up to three others can be members.
• All documents have been carefully and professionally drafted to accord with the latest superannuation law and to provide maximum flexibility and robustness in the face of all possible eventualities and changes in the law. You will be purchasing this directly from the person who drafted it, providing you with security and assurance.
• The detailed step-by-step guide (opens in new window) and document templates should minimise any pitfalls.

Contents of SMSF set up pack using individual trustees (smsfindivpack)

• smsf trust deed for individual trustees
• detailed instructions for all government and fund forms
• consent to be trustee form
• sample investment strategy indiv 1-30
• full product disclosure statement indiv
• member application documents and acceptances
• register of members of fund
• establishment costs election (to deal with set up costs)
• certificates of compliance: for employers and for transfer/rollover
• rollover request form
• trustees minutes: (bank account, stockbrokers, rollover)
• binding death benefit nomination and expression of wishes
• Excel spreadsheets producing financial statements and tax details from your data
• pension request forms: transition to retirement, after age 65, retirement
• detailed step-by-step guide (opens in new window) giving the sequence to follow, and how to complete each form and complete each step
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• after sales support: see description

Establishment fees
There are no other costs of establishing the fund, but you might incur incidental costs like stationery, printer consumables and photocopying.
Although the cost of the setup pack cannot be deducted within the fund for tax purposes, it can either be repaid to you by the fund once it is established, or treated as a contribution to the fund. Details and an option form are in the set-up pack.
Annual costs
Optional financial adviser's and accountant's fees - varies
Obligatory auditor's fee - varies
ATO supervisory levy - from 1 July 2024 new funds pay $518 to file the first annual return, and $259 per annum after that
These can all be deducted within the fund for tax purposes.

Last updated on 7 April 2022 and current for your date of purchase

Is indtocorp the package you need?

• Only use this pack if you already have an Australian SMSF with individual trustees.
• This pack is for funds which wish to change from individual trustees to a corporate trustee.
• The reason why the fund might wish to do this is to make it easier to make a property investment, or to make it easier to deal with member changes, including the death of a member or a reduced ability of a member to manage their own affairs.
• Note that following the change of trustee, all assets of the fund must be transferred to the new corporate trustee.

Contents of this pack (indtocorp)

• trustees decision to amend deed and change trustee
• deed of amendment, resignation and appointment
• up to date smsf corp trust deed (replaces existing deed)
• smsf company constitution
• detailed instructions for all government, fund and company forms
• sample investment strategy corp 1-30
• addendum to investment strategy corp 1-35
• resolutions: (investment strategy, bank account, stockbrokers, rollover)
• registers: members of company, members of fund
• membership applications (for new members only)
• full product disclosure statement corp
• certificates of compliance: for employers and for transfer/rollover
• binding death benefit nomination and expression of wishes
• Excel spreadsheets producing financial statements and tax details from your data
• pension request forms: transition to retirement, after age 65, retirement
• detailed step-by-step guide (opens in new window) giving the sequence to follow, and how to complete each form and complete each step
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• after sales support: see description

Fees
Apart from incidental costs like stationery, printer consumables and photocopying, the only additional fee is paid to the ASIC on registering the corporate trustee. From 1 July 2024 the fee is $597.
This cannot be deducted within the fund for tax purposes.
There may also be costs incurred in transferring the assets of the fund to new trustee.
Annual costs
ASIC annual review fee - from 1 July 2024 this is $65

Last updated on 7 April 2022 and current for your date of purchase

Are these spreadsheets suitable for your fund?

• Only use them if your fund is a non-GST registered fund, investing only in financial investments such as bank deposits, shares, unit trusts, managed funds, bonds and foreign currency.
• Do not use these spreadsheets if your fund has rental property, invests in land, trees, collectables, depreciating assets or "active assets" like businesses or has liability under the forex rules.
• The multi-member spreadsheets allow separate entries for each member (up to six) and the member's share of the profit or loss is calculated automatically from the opening balance and timing and amount of contributions or transfers-in.
• The spreadsheets can handle foreign currency investments, income and expenditure. In accordance with ATO rules, each transaction is translated into Australian dollars at the time it takes place and balances are translated at the end of the year. How exchange rates are used is explained in the help file.
• Comprehensive reconciliation techniques are used to ensure integrity of formulae and data.
• The help file is comprehensive, and explains how to handle income and expenditure of the usual types incurred by an SMSF. This is updated to suit changes in tax law and practice and the updates are available for view and/or download directly from the spreadsheets.
  See the topics in this help file (opens in new window).
• For Excel experts, all formulae and text can be unprotected and changed if you wish to make changes.
• After sales support: within reason I am happy to deal with enquiries where the answer is not given in the help file.

Contents of this pack - reports
mouseover the eye to see a screenshot

Report 2024		-	this produces, from data entered by you and from the results of calculations made in the other worksheets, the financial statements required of the fund (statement of financial position and operating statements)
Tax 2024			this produces, from the results of calculations made in the other worksheets, the correct figures to insert in the annual tax return; it also includes some checks and reconciliations which may alert you to data input errors or to corruption of formulas used in the spreadsheets
CGT Calculator		-	this produces, from the results of calculations made in the other worksheets, the figures to insert in the ATO's annual tax return in respect of CGT; it does this by using the calculations required by the ATO's CGT schedule - the schedule itself only needs to be sent to the ATO if there are gains or losses over $10,000

Contents of this pack - Australian Dollar sheets
mouseover the eye to see a screenshot

AUD Income		-	you insert on this worksheet: dividend payments, trust distributions, interest received, and any member or personal contributions in AUD made by a member or on the member's behalf; it is from this information that the income sections of the operating statement are prepared
AUD Assets		-	you insert on this worksheet: details of holdings, purchases and sales of managed investments, shares, stocks, bonds, unit trust holdings etc held in Australian dollars; it is from this information that the CGT calculations and the financial statements will be prepared automatically: this is the most complicated worksheet
AUD Deductions		-	you insert on this worksheet: payments made by (or on behalf of the fund) which can properly be claimed as "deductions", that is to say which reduce the income of the fund for the purposes of tax
AUD Out		-	you insert on this worksheet: payments made by (or on behalf of the fund) which cannot properly be claimed as "deductions" so as to reduce the income of the fund for the purposes of tax; in other words insert all the fund's expenditure here which is not inserted in the AUD deductions worksheet. Pension payments (both TTR/TRIS and retirement phase payments) should go here.

Contents of this pack - foreign worksheets If your fund has foreign currency transactions then you will also use the following worksheets:-

Non-AUD Income		-	you insert on this worksheet: dividend, interest and any other income received in a foreign currency
Non-AUD Assets		-	you insert on this worksheet: details of shareholdings and other investments held in a foreign currency (with purchase and sale information), and details of foreign cash balances and foreign currency transferred into the fund: if you are a migrant or ex-pat the date of acquisition is calculated and also any tax to pay if you missed the 6 month transfer window
Non-AUD Deductions		-	you insert on this worksheet: payments made by (or on behalf of the fund) in a foreign currency which can properly be claimed as "deductions", that is to say which reduce the income of the fund for the purposes of tax
Non-AUD Out		-	you insert on this worksheet: payments made by (or on behalf of the fund) which cannot properly be claimed as "deductions" so as to reduce the income of the fund for the purposes of tax; in other words insert all the fund's expenditure here which is not inserted in the Non-AUD deductions worksheet

There are no other fees to pay for using the spreadsheets, however if you need advice or assistance from an accountant this will incur further costs.
Your fund will still need to pay the annual audit fee because the audit must be carried out by an accredited auditor who is independent of the fund.

Last updated in September 2024 and suitable for 2024 accounts.

You will receive a zip file. You cannot use this without "extracting" the files. Right click on the zip file (which may be in your "downloads" folder or similar) and choose "unzip", "extract". Put the files somewhere where you will find them again.

These are the files in the zip file:-

spreadhelp.html
Comprehensive help file explaining how to handle usual types of SMSF income and expenditure. This is updated to suit changes in tax law and practice and the updates are available for view and/or download from links in the spreadsheet. See the topics in this help file (opens in new window).

DirectDocs2024 OneMember (Aus only).xlsx, DirectDocs2024 OneMember (Aus and foreign).xlsx, DirectDocs2024 TwoMember (Aus only).xlsx, DirectDocs2024 TwoMember (Aus and foreign).xlsx, DirectDocs2024 SixMember (Aus only).xlsx, and DirectDocs2024 SixMember (Aus and foreign).xlsx
These are empty workbooks. Which one you use depends on whether you have a single member or multi-member fund, and whether there are any foreign currency transactions.

DirectDocs2024 OneMember Sample data(Aus only).xlsx, DirectDocs2024 OneMember Sample data (Aus and foreign).xlsx, DirectDocs2024 TwoMember Sample data(Aus only).xlsx, DirectDocs2024 TwoMember Sample data (Aus and foreign).xlsx, DirectDocs2024 SixMember Sample data(Aus only).xlsx, and DirectDocs2024 SixMember Sample data (Aus and foreign).xlsx
Versions of the workbooks with sample data in most fields - demonstrates formulae, CGT calculation, tax return report, and financial statements.

Is qrops55+corppack the package you need?

• Only use the pack to set up a QROPS SMSF (for UK migrants into Australia, or ex-pats returning to Australia) with a corporate trustee.
• All members must be 55 or over.
• The trust deed establishes an account based fund (an accumulation fund, which is the usual type of smsf), into which you personally, or your employer, can make contributions. You can rollover (transfer-in) money from other superannuation funds including from your UK funds. You can't get the money out until an event as permitted by Australian and UK law. You and up to three others can be members of the fund.
• The trust deed links up with the corporate constitution also included.
• All documents have been carefully and professionally drafted to accord with the latest superannuation law and to provide maximum flexibility and robustness in the face of all possible eventualities and changes in the law. You will be purchasing this directly from the person who drafted it, providing you with security and assurance.
• The detailed step-by-step guide (opens in new window) and document templates should minimise any pitfalls.
• You will need to lodge the documents yourself.

Contents of QROPS SMSF (corp trustee) set up pack for UK migrants/ex-pats (qrops55+corppack)

• qrops smsf corp trust deed and smsf company constitution
• detailed instructions for all fund and company, and Aus and UK government forms
• detailed instructions about how to get the fund ready for the UK pension money transfer
• detailed instructions about how to achieve the transfer
• consent to be officeholder of corporate trustee, resolution to act
• sample investment strategy corp 1-30 and resolution
• resolutions: (bank account, stockbrokers)
• resolutions (rollovers, money exchange)
• full product disclosure statement corp
• application to be member, product disclosure declaration and TFN documents
• establishment costs election (to deal with set-up costs)
• registers: members of company, members of fund
• certificates of compliance: for employers and for transfer/rollover
• binding death benefit nomination and expression of wishes
• Excel spreadsheets producing financial statements and tax details from your data
• forms for the fund to achieve the transfer of managed funds, units and oeics
• pension request forms: transition to retirement, after age 65, retirement
• detailed step-by-step guide (opens in new window) giving the sequence to follow, and how to complete each form (including the latest APSS251 online form) and complete each step
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• after sales support: see description

Establishment fees
Apart from incidental costs like stationery, printer consumables and photocopying, the only additional fee is paid to the ASIC on registering the corporate trustee. From 1 July 2024 the fee is $597.
Although the establishment fees cannot be deducted within the fund for tax purposes, they can either be repaid to you by the fund once it is established, or treated as a contribution to the fund. Details and an option form are in the set-up pack.
Transfer costs
There may be costs of transfer. When surrendering UK policies there may be penalties and fees to pay. Transferring from a final salary scheme will probably require advice from a UK financial adviser. When transferring cash there may be bank fees to pay. When transferring shares or units and fund holdings in specie there may be brokers or other fees to pay.
Annual costs
ASIC annual review fee - from 1 July 2024 this is $65
Optional financial adviser's and accountant's fees - varies
Obligatory auditor's fee - varies
ATO supervisory levy - from 1 July 2024 new funds pay $518 to file the first annual return, and $259 per annum after that
These can all be deducted within the fund for tax purposes.

Last updated on 23 March 2023 and current for your date of purchase

Is qrops55+indivpack the package you need?

• Only use the pack to set up a QROPS SMSF with individual trustees.
• All members must be 55 or over.
• The trust deed establishes an account based fund (an accumulation fund, which is the usual type of smsf), into which you personally, or your employer, can make contributions. You can rollover (transfer-in) money from other superannuation funds including from your UK funds. You can't get the money out until an event as permitted by Australian and UK law. You and up to three others can be members of the fund.
• All documents have been carefully and professionally drafted to accord with the latest superannuation law and to provide maximum flexibility and robustness in the face of all possible eventualities and changes in the law. You will be purchasing this directly from the person who drafted it, providing you with security and assurance.
• The detailed step-by-step guide should minimise any pitfalls.

All links open in new window

QROPS compliant SMSF set up pack using individual trustees for UK migrants/ex-pats (qrops55+indivpack)

• consent to be trustee form
• qrops smsf trust deed for individual trustees
• detailed instructions for all government, fund and hmrc forms
• detailed instructions about how to get the fund ready for the UK pension money transfer
• detailed instructions about how to achieve the transfer
• sample investment strategy indiv 1-30
• trustees minutes: (investment strategy, bank account, stockbrokers)
• trustees minutes: (rollover, money exchange)
• full product disclosure statement indiv
• application to be member, product disclosure declaration and TFN documents
• establishment costs election
• register of members of fund
• certificates of compliance: for employers and for transfer/rollover
• binding death benefit nomination and expression of wishes
• Excel spreadsheets producing financial statements and tax details from your data
• pension request forms: transition to retirement, after age 65, retirement
• forms for the fund to achieve the transfer of managed funds, units and oeics
• detailed step-by-step guide (opens in new window) giving the sequence to follow, and how to complete each form (including the latest APSS251 online form) and complete each step
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• after sales support: see description

Establishment fees
There are no other costs of establishing the fund, but you might incur incidental costs like stationery, printer consumables and photocopying.
Although the cost of the setup pack cannot be deducted within the fund for tax purposes, it can either be repaid to you by the fund once it is established, or treated as a contribution to the fund. Details and an option form are in the set-up pack.
Transfer costs
There may be costs of transfer. When surrendering UK policies there may be penalties and fees to pay. Transferring from a final salary scheme will probably require advice from a UK financial adviser. When transferring cash there may be bank fees to pay. When transferring shares or units and fund holdings in specie there may be brokers or other fees to pay.
Annual costs
Optional financial adviser's and accountant's fees - varies
Obligatory auditor's fee - varies
ATO supervisory levy - from 1 July 2024 new funds pay $518 to file the first annual return, and $259 per annum after that
These can all be deducted within the fund for tax purposes.

Last updated on 23 March 2023 and current for your date of purchase

Is smsf>qrops55+pack the package you need?

• Only use this pack if you already have an Australian SMSF and all its members are 55 or over.
• These are instructions to enable you to amend the trust deed (including later amending instruments)of your existing Australian SMSF and to apply to HMRC (with Her Majesty's Revenue and Customs in the UK) for it to go on the QROPS list. It is suitable for use with both corporate and individual trustees.
• The pack also explains how to organise transfers of UK pension money into your SMSF, and assets in specie, and how to organise your SMSF ready to receive them.
• See what is in the detailed step-by-step guide (opens in new window).

Contents of this pack (smsf>qrops55+pack)

• how to amend the trust deed and later amending instruments (with amending deeds and resolutions)
• how to complete the new APSS251 form and apply by post to go on the ROPS list
• confirm prudence and timing of UK pension money transfer
• detailed instructions about how to get the fund ready for the UK pension money transfer
• detailed instructions about how to achieve the transfer
• forms for the fund to achieve the transfer of managed funds, units and oeics
• All documents are in rtf format (easily amended, saved and printed, or converted to a different format), except the step-by-step guide which is in pdf
• See what is in the detailed step-by-step guide (opens in new window).
• after sales support: see description

Fees
There are no other costs involved in getting your fund on the QROPS list. There are no fees to pay HMRC or the ATO.
There may be costs of transfer. When surrendering UK policies there may be penalties and fees to pay. Transferring from a final salary scheme will probably require advice from a UK financial adviser. When transferring cash there may be bank fees to pay. When transferring shares or units and fund holdings in specie there may be brokers or other fees to pay.
Annual costs
There are no additional annual costs associated with obtaining QROPS status for your existing SMSF.

Last updated on 23 April 2023 and current for your date of purchase

Do you need APSS251 help?

• New QROPS
  Basically you ought not to be looking for help with APSS251 for a new QROPS because the help is part of a DirectDocs pack. If you have not purchased a DirectDocs pack then I would be concerned that you may have picked up an ineffective QROPS deed, because any good QROPS deed should come with instructions about APSS251. It is important to use an effective QROPS deed because a transfer from a UK pension scheme to a non-QROPS is chargeable to UK tax. Please note that by putting a fund on the list, HMRC does not certify that a fund is a QROPS.
• Existing QROPS
  You might be looking for help with APSS251 to renotify HMRC of the ROPS (after five years). But you will not need to renotify if all UK pension transfers have been completed (after that it does not matter if it is removed from the list). Note however, that all the other things which apply to the UK sourced pension money continue to apply to a fund removed from the list - including the reporting obligations, UK tax and transfer restrictions, and investment restrictions.

Contents of this pack (APSS251 help)

• APSS251 help - how to find the form, how to complete it and how to submit it
• HMRC email consent letter (will help to receive communication by email rather than post)

Last updated on 27 December 2020 and current for your date of purchase