Wednesday, May 25, 2016

New Product - SMSF Wind Up

Sharmistha Bose, Product Marketing Specialist
Cleardocs is pleased to introduce the SMSF Wind Up document package.

When trustees have made the decision that an SMSF is no longer appropriate for their circumstances, it's important to ensure the SMSF is wound up correctly. The Cleardocs package makes it easy and ensures you comply with all requirements. You will receive all the documents you need and clear guidance on the steps you need to take to close the SMSF.

You can order the Cleardocs SMSF Wind Up document package online for $55 (inc. GST).

When might SMSF trustees decide to wind up an SMSF?

SMSF trustees can generally wind up a fund whenever they wish to do so (subject to the trust deed, which might include requirements such as obtaining the consent of all members). Common reasons for winding up an SMSF include situations where:
  • there are no assets left in the fund;
  • the SMSF's members no longer wish to manage their superannuation themselves;
  • the fund has no members;
  • the fund is no longer able to comply with superannuation law (for example, the trustee and members wish to move permanently overseas); and/or
  • the members' circumstances have changed (for example, matrimonial splits).
What documents are included in the Cleardocs package?

The Cleardocs package includes:
  • minutes or resolutions (as needed by your particular SMSF);
  • consents by the members and the employer-sponsor (if your fund has one);
  • notices to various parties, including the ATO; and
  • an Establishment Kit explaining the steps involved in winding up the fund.
The documents are signed off by top-20 Australian law firm, Maddocks.

Any questions?

If you have any questions about the SMSF Wind Up product, or any of our other products, please call our free helpline on 1300 307 343.

+Cleardocs Thomson Reuters