ESuperfund Questions & Answers (page 3 of 3)

Hi Nelz. Our super is quite simple, just a Commsec account and an ANZ savings account, both set up by Esuperfund.
You are best to talk to Esuperfund about your plan, they are very helpful. We have been very happy with Esuperfund, they handle all of the tax and SMSF issues for about $700 per year. We have been with them since 2008. Cheers, Ian

Hi Neiz, Suggest you contact eSuperfund and talk to them direct. They have all the answers on what you are seeking. I have been very happy with their service over many years and highly recommend them. Cheers, Raymond

Please note above should read are there PROVISIONS to set up a super fund with anon family member (i.E friends setting up together)

Hi Helen,
I that is a question for your accountant.
Regards

I am not the ATO but my completely non-professional opinion is that unless the purchase was consistent with the investment strategy in your Trust minutes there could be a compliance problem. Mainly because I would guess that the rate of return for agistment in most rural areas is sub-optimum i.e. well below the present market return on capital investment in other areas such as term deposits. You would need to be able to show that there was a long-term revenue stream consistent with the expectation expressed in your strategy. (Yes, that could of course include capital gain, but any such gain is very unreliable.) Also, if you have non yet entered retirement, the ATO might question whether you were acquiring a non-productive asset for personal lifestyle purposes, in contravention of the arms-length requirements of the Act.
Having said all that, it depends on the level of audit scrutiny experienced by your fund whether ANY minor digressions from the orthodoxy, accidental or deliberate, are ever detected by anyone.

You are switching from an industry fund to a self managed super fund. Benefits are lower fees, more investment choices. Disadvantages - you need at least two members (trustees) and there is no cost advantage if you are going to invest in managed funds. There is no anti detriment (refund of contributions tax on death benefit) You only do it if you want to trade shares or buy property. You are responsible for compliance and record keeping for tax purposes. To switch open an SMSF account on line with e super, they will organise the paperwork, then you request your current fund to roll over your super into esuper. It's quite easy.

Dear Chris,
I am trustee of our SMSF. There are 2 of us, me and my husband. We just established our fund through Esuperfund. There are a lot of advantages being with them: low cost, very knowledgeable and efficient staff. You need to let me know: what are you looking at and what the reason for leaving your existing provider. Give me more details and I will be more than happy to assist you.
Irina

I am thinking of doing the same thing ourselves, I would just send an email to Esuperfund asking the qustion but personally I wolud expect its ok.

http://esuperfund.com.au/smsf-property/no-borrowing.html They have detailed the process here. Hope it helps!

No, purely historical tax records done annually.

For your cash and shares you would check your E Super bank account (ANZ or CBA) and Comsec brokerage account (or ESuper Brokerage account) for current and historical investments. For property you or the bank would have the title (electronic I believe these days.)

You need to ask them, not me - I am a customer

Hi Vicky. I'm not too sure about the in depth rules such as this one. it may pay to drop Esuperfund an email them and ask, their email address for enquiries is [email protected]. Sorry I couldn't help out further.

At present you can only use Comsec or Esuper's brokerage facility