SMSF Trust Deed Upgrade

$220 (incl. GST)

or order as part of a monthly subscription with Create Legal for $990 (incl. GST) per month; or

Ask us about our bulk trust deed update options, either at a discounted per Deed price (based on volume) or as a subscription for a minimum time period.

ORDER NOW

or login if you are a member.

Create online, delivered instantly

Generate documents to upgrade an existing trust deed of a Self-Managed Super Fund (SMSF) to comply with the current superannuation and taxation laws.

The following documents will be generated as part of the completed order:

  • Deed of Variation upgrading the fund’s rules
  • Updated SMSF Trust Deed
  • Trustee minutes amending the governing rules of the fund
  • Notice to members about the deed upgrade

Sample documents are available to view within the knowledge base. You can save this order to resume at any time and can review prior to submission.

Why you should use a Smarter Deed

The Smarter SMSF Deed has been built by SMSF specialists, Ian Glenister (Legal Officer, Smarter SMSF), Aaron Dunn (CEO, Smarter SMSF) and Chris Hill (Director, Hill Legal) for use by practitioners who need the confidence that comes with using best practice SMSF documents drafted by industry leading experts.

The Smarter Deed not only stays up-to-date with the latest superannuation laws, but also strategically considers topics impacting membership, contributions, income streams, estate planning and more.

 

Generate with your Simple Fund 360 data – saving you time!

Using our integration with BGL’s Simple Fund 360, you can easily arrange for your trust deed updates by populating most of the information from your software including fund information, member details and deed history.  Once completed, you can automatically push the completed order back into Simple Fund 360 document storage area.

 

Create your deed upgrades using Class, saving you time…

As a Class user, you can complete your trust deed upgrades by populating the online form using the fund, member and deed history information.

 

Ordering online

To start ordering a smarter way, simply follow these steps:

  1. Login or Sign up to purchase as a PAYG member
  2. Select the document that you wish to create
  3. Review & submit your order (and ‘Pay’ if PAYG)
  4. You’ll have the order instantly delivered to you in less than 5 mins.
LOGIN

or register now as a PAYG member to start ordering now.

How to videos

Order a new SMSF

This video explains the process in ordering a new SMSF on the Smarter SMSF platform.

 

One click fund set up in Class

This video explains the one-click process to automatically set up your fund after ordering within your Class software.

 

Need assistance?

If you require help with ordering your SMSF documents, get in contact with us via live chat, by telephone on 1300 95 94 76, email team@smartersmsf.com.

Become a Member

We offer the following subscriptions:

Create – $275 (incl. GST) per month

providing unlimited monthly access to the complete range of SMSF pension and compliance documents available on the Smarter SMSF platform.

Create Legal – $990 (incl. GST) per month

providing unlimited monthly access to the complete range of SMSF legal documents available on the Smarter SMSF platform.

Accountants Bundle – $550 (incl. GST) per month

providing unlimited access to all create documents, plus new SMSF, company incorporation and death benefit nominations.

Unlicensed Accountants Bundle – $660 (incl. GST) per month

providing the same unlimited access as above, plus the ability to utilise the suite of practical and compliant unlicensed accountant’s letters for common conversations with your SMSF clients.

Ordering Pay-As-You-Go (PAYG)

You can order a SMSF Trust deed upgrade as a PAYG member for $220 (incl. GST).

Download the PAYG document price list

Who maintains the Smarter SMSF trust deed to ensure compliance with the laws?

All SMSF documents available on the Smarter platform are drafted and maintained by leading SMSF specialists:

  • Ian Glenister (Legal Officer, Smarter SMSF), B.Juris  LL.B PC SMSF (Uni Adel) SSA
  • Chris Hill (Principal, Hill Legal), LL.B; B.Juris; Dip.FP; CFP; TEP; LIV Accredited Specialist; SSA
  • Aaron Dunn (CEO, Smarter SMSF), B.Bus (Acc), CPA, SSA

What information is required to upgrade the trust deed?

You will require information about the fund, including:

  • Fund Name, when the fund was established, etc.
  • History of the fund including any previous variations including relevant clauses that allow for the update to occur.
  • Trustee details, member information and any other parties to the fund’s deed which may include a founder and/or employer sponsor

Who needs to sign the trust deed upgrade documentation?

All parties to the Deed will be required to sign, including the trustees or directors of the corporate trustee and members.  In some cases, additional parties such as a Founder or employer sponsor may also need to sign as a party to the deed.

Through the upgrade process, we can arrange for the removal of any additional party that you may not longer wish to have included in the documentation – they will still however need to sign the updated deed as being removed in this process.

Do I need to upgrade the fund for the 1 July 2017 super reforms?

There have been substantial changes through the super reforms that impact the way in which a fund needs to operate to comply with the new laws.  This includes, but is not limited to:

  • Flexibility in making contributions – the rules of the fund have been updated to ensure all forms of authorised contributions can be accepted. The deed also provides an opportunity for contributions to be held by the trustee for a short period of time and allocated at a later date.  This can provide both tax benefits to an individual through contribution reserving but also potentially benefits making additional contributions due to the value of a member’s total superannuation balance at the end of a financial year.
  • Flexibility in payment of income streams – the trust deed allows for the payment of various income streams from within the SMSF by establishing the pension as a special rule of the fund.  This is important, as over time the member may want to alter the terms and conditions of the income stream, such as adding or removing a reversionary beneficiary. This may occur without any loss of existing entitlements, including Age Pension.
  • Creation of a ‘paramount document’ – the trust deed introduces a concept to allow for the member to decide which document they want to take precedent in the event of their death. In many instances, conflicts can exist between death benefit nominations and pensions that provide uncertainty around the payment of death benefits.  By establishing the paramount document through the rules of the fund, it removes any uncertainty for the trustees in the event of a member’s death.
  • Ability to create various death benefit instructions – the updated trust deed will allow a member to dictate the level of flexibility or control they want in the payment of their death benefits. The rules of the fund allow for a binding death benefit nomination (including non-lapsing), non-binding death benefit nomination, along with SMSF Will which introduces specific instruction for the payment of death benefits.  This may include specific instructions for different superannuation interests of a member, specific assets to be transferred, etc.  All death benefit nominations allow for cascading decisions in the event that a nominated beneficiary pre-deceases the member.
  • Estate planning flexibility with transfer balance cap – the rules of the fund provide complete flexibility for a surviving beneficiary to choose how death benefits are to be paid to them in the event of a member’s death and to be able to take the necessary steps to comply with their own transfer balance cap within the prescribed timeframes. For example, this may include commencing a death benefit income stream, in addition to undertaking a rollback, in part or full, of the beneficiary’s existing pension to ensure that they do not breach their transfer balance cap.
  • Flexibility in fund earnings methodology – the rules of the fund allow to trustee to adopt different methods to attribute fund earnings. This can be beneficial where the trustee wishes to adopt an investment reserve, or an alternate approach to allocating income for member specific investment strategies as a result of the prohibition for an SMSF to claim tax exemption using the segregated method where a member is in excess of $1.6 million.
  • Guardians for fund members – the governing rules allow for a member to appoint a fund guardian so that upon the death of the member, the guardian will police the payment of the member’s death benefits to ensure that they reach their intended recipients. This is particularly beneficial for blended families (multiple marriages), or where there are special needs recipients (e.g. individuals who may be financially irresponsible).

You can view our sample client letter about the reasons to upgrade your fund’s trust deeds.

I want to do a bulk update for all my client's funds?

Smarter SMSF offerings two models for bulk trust deed upgrades:

  1. a discounted per document fee; or
  2. as part of a monthly membership fee (with minimum time period)

See our additional FAQs for details of the membership bulk deed update offer.

You can contact us to request further information about bulk deed updates.

How does the bulk trust deed upgrade work as a member?

Whilst providing the ability to access trust deed updates on a per fund basis, we also provide an alternate model based on access as a member.

We know with the implementation of the super reforms many of our existing members and other practices have undertaken trust deed upgrades.  Under our monthly subscription model, based upon the number of funds required to be upgraded, in many cases this will also breach our fair use policy around document generation. To deal with this matter, we are offering a solution that provides a minimum contract period of 12 months at $1,310 + GST p/mth.

The commitment is based upon the number of funds that would require trust deed updates.

No. of deed upgrades Minimum Contract Period
Up to 50 6 months
51 – 75 9 months
76 – 100 12 months
Over 100 12 months + upfront fee (neg.)

 

We believe the benefit of this subscription option is significant to a practice as:

  • you can spread your cost of the deed upgrades over the minimum contract period (not pay for it all upfront);
  • access our industry leading SMSF trust deed to complete the updates; and
  • most importantly, leverage all the benefits of membership for the duration of the contract period, including the ability to establish new SMSFs, order companies, access pension and compliance documents with the super reforms (including using key SMSF software integrations), attend training and access technical support.

Why the membership offer?

The reason why we are offering this membership solution is simple – we believe that our membership provides great value to practices to not only navigate through the super reforms, but also well into the future. By providing a minimum time-frame for membership, it is our aim to have you leveraging the benefits of our Smarter platform throughout this time and continue on at a higher member thereafter that you currently are.

We are seeing this with the ever growing number of practices that have been signing up to this special offer over the 12 months.

SMSF Trust Deed Upgrade – Sample Document

View a sample copy here.

 

Other references

N/A