personal superannuation solutions. - Bell Potter Securities

personalsuperannuationsolutions.Disclosure Document for Self-Managed Superannuation Fund ServicesUpdated 14 April 2011.

Contents.PART A: BELL POTTER PERSONAL SUPERANNUATION SOLUTIONSWHO IS INVOLVED 4FEES AND OTHER COSTS 11WHAT IS SUPERANNUATION? 17PART B: yOUR SELF MANAGED SUPERANNUATION FUNDWHO LOOKS AFTER THE FUND? 18ABOUT YOUR FUND 20WORKING TO YOUR RETIREMENT 29APPLICATION FORMS 41Important informationThis disclosure document provides information about Bell PotterPersonal Superannuation Solutions. It will help you to:■■ decide whether a self managed superannuation Fund (SMSF), andthe securities advisory and administrative services to be providedto the Trustees of the Fund by Bell Potter Securities Limited (BellPotter), will meet your needs; and■■ compare the SMSF and related services offered through Bell PotterPersonal Superannuation Solutions with others you may be considering.Please note:1. The offer contained in this disclosure document is made inAustralia and is only offered to persons that receive it in Australia.2. This disclosure document includes the Application Formsattached to it.3. If you have received this disclosure document in electronic format,you can obtain a paper copy of it (including the attached ApplicationForms) on request from Bell Potter at any time at no charge.4. Application can only be made on the Application Forms attachedto this disclosure document.The Trustees are responsible for ensuring that the Fund is maintainedfor the purpose of providing benefits to Members upon their retirement,or their dependants. The Trustees must also ensure that the Fund isproperly managed and that it complies with Superannuation Law andother legal obligations. Whilst the Trustees can engage other people todo certain acts or things on their behalf (e.g. engaging the services of asuperannuation Fund administrator, tax agent, investment adviser, etc),they are bound to retain control over the Fund and remain responsible forall its operations.Bell Potter Securities Limited (Bell Potter) provides a range offunctions under the Bell Potter Personal Superannuation Solutionsservice. Importantly, the service is structured in such a way that theTrustees, who are responsible for managing the investments of theFund, can obtain investment advice from suitably licensed investmentadvisers, including a Bell Potter Adviser in relation to the securitiesmarkets. Ongoing comprehensive monitoring and reporting in respectof the Fund’s investment portfolio is part of the Bell Potter PersonalSuperannuation Solutions service.smartsuper pty limited (smartsuper) is an outsourced superannuationadministration and accounting services provider who will be theFund administrator and will be responsible for the administration ofsuperannuation matters in relation to the Fund.Disclaimer – smartsuper pty ltd (Administrator)Neither smartsuper pty limited ABN 47 003 822 339 AFS Licence No.247120 (smartsuper) nor any of its subsidiaries nor its respectiveofficers guarantees any particular rate of return, the capital investednor the repayments of capital, nor the performance of any specificinvestment.Disclaimer – Bell Potter Securities LimitedThis disclosure document has been prepared by Bell Potter SecuritiesLimited (Bell Potter) (ABN 25 006 390 772).Neither Bell Potter, nor any of its associates or officers guarantee thecapital invested by the Fund Trustees, the performance of any specificinvestment or your Fund generally. The information contained in thisdisclosure document is factual information only. This disclosure documentdoes not and is not intended to contain any recommendations, statement ofopinion or advice. To the extent that this disclosure document does containany advice, that advice does not consider any person’s objectives, financialsituation or particular needs and you should consider the appropriatenessof the advice to your own objectives, financial situation and needs beforeacting on it. Before you make an investment decision, you should obtainprofessional independent financial advice from a licensed financial adviser.Accuracy of disclosure document after preparation dateAny statements contained in this disclosure document are based onlegislation current as at the date of issue of this disclosure document.No responsibility is accepted for any loss created as a result of changesin legislation after the date of preparation of this disclosure document.For reasons of simplicity, any references to legislation only refer tomaterial matters that may apply. You should check with your financialand/or taxation advisers as to whether there are any other issuesor any changes to legislation since the date of preparation of thisdisclosure document that may apply to your circumstances.2

Bell Potter Personal Superannuation SolutionsBell Potter recognises that no twopeople are alike; everyone has uniquefinancial needs and our purpose is toprovide personalised solutions thatbest address those needs.Our superannuation and retirementsolutions allow you to establish yourown self-managed superannuationFund, and to simplify what mightotherwise be onerous and timeconsumingTrustee responsibilities,like ongoing administration andstatutory reporting, through theappointment of Fund administrationspecialists.Our approach to investment adviceis based on the recognition that eachindividual’s financial needs will varyand no single investment strategyis right for every client. Withinthe Trustee-approved investmentstrategy, we draw on our resourcesand services to advise you onimportant investment considerationsand decisions to assist you topreserve and build your wealth.As your retirement needs change,we will work with you to ensureyour Fund continues to meet yourrequirements.Among other uses, an SMSF can beused by persons who wish to :■■■■■■■■make superannuationcontributions;rollover superannuation from otherFunds or consolidate all of theirsuperannuation within one vehicle;receive a lump sum retirementbenefit; orreceive a pension upon retirement(and in certain circumstances evenprior to retirement – see page 29).Generally, you will have access toyour capital once you retire, subjectto legislative requirements.This disclosure document is in twoparts:Part A- explains the services offeredby Bell Potter PersonalSuperannuation Solutions;andPart B- explains your self managedsuperannuation Fund.Each Fund established through theBell Potter Personal SuperannuationSolutions service is a self-managedsuperannuation Fund (Fund) withup to 4 Members. The Trustees ofeach Fund are those specified inthe relevant Application Forms. AMember of the Fund is required bylaw to be a Trustee or a director of acompany that acts as Trustee.super solutions.3

PART A. bell potter personal superannuation solutionswho is involved?Who’s involvedSMSFs require administration andmonitoring to ensure that theirdaily operations are conductedappropriately. By completing theApplication Forms, the Trusteescan agree to appoint certainservice providers to the Fund.Upon appointment, Bell Potterwill assist with administeringthe Fund’s investments andsmartsuper with administrationof your Fund’s superannuationand accounting-related matters.Experienced portfolio and specialistsuperannuation administrators lookafter the day-to-day operations ofyour Fund. While the aim is to assistthe Trustees attend to all their duties,the responsibilities of the Trusteesare not diminished because of theassistance that Bell Potter andsmartsuper provide.Fund administration is importantThe Bell Potter PersonalSuperannuation Solutions service isdesigned to provide a personalisedand flexible means to allowindividuals to take more control overtheir retirement savings by:■■■■establishing and administering anew SMSF; ortransferring the administrationof an existing SMSF to Bell Potterand smartsuper.Once you have lodged yourapplication, your SMSF will beestablished (if you do not alreadyhave one) or the administrationof your existing SMSF will betransferred to Bell Potter andsmartsuper. Bell Potter andsmartsuper will continue to provideadministration services to yourSMSF unless and until the Trusteesterminate their appointment.The table following explains thefeatures of Bell Potter PersonalSuperannuation Solutions, and listsvarious services provided by Bell Potter,both itself, and through smartsuper.The table also indicates various taskswhich the Trustee must perform. Thetable should not be interpreted as acomplete statement of the tasks whichare required of the Trustee.4

Overview of our service and Trustees obligationsFeatureSFund establishment and administration services for the investmentportfolio and Fundbell potterpersonal supersolutionstrustees’obligationsFlexibility to tailor and amend the Fund’s Investment Strategy as requiredby the TrusteeProvision of securities advice through your Bell Potter AdviserInvestments are registered in the Trustee’s nameAbility to in specie transfer eligible investments; e.g. listed securities,managed funds, business real propertyMultiple members (maximum 4)Members can have multiple accounts; e.g. accumulation account andpension accountsMember benefits form part of the underlying Fund investment portfolioPension options include – account based pension, transition to retirementpension, complying pension; includes revisionary pension optionMember Binding or Non-Binding beneficiary nomination optionsInsurance cover for Members and Fund assets if desiredestablishmentEstablishment of a Corporate Trustee, where requested Preparing a new Trust Deed or arranging a Trust Deed amendment for anexisting Fund (where applicable) – refer to ‘Trust Deeds’ section belowProvision of Trust Deeds (for Deeds sourced from smartsuper’s preferredlegal supplier)Lodge an Australian Taxation Office (ATO) application to become aRegulated FundLodge applications for an Australian Business Number (ABN) and Tax FileNumber (TFN)Lodge application for Goods and Services Tax (GST) registrationProcess Member application documentationPreparation of Trustees Minutes, includes:■■■■■■TrusteeshipMember acceptanceInvestment StrategyReview and completion of Trustees MinutesArrange the transfer of Member benefitssuper solutions.5

PART A. bell potter personal superannuation solutionsOverview of our service and Trustees obligations continuedauditPreparation of comprehensive work papers at year end to simplify theaudit processAppointment of an ‘Approved Auditor’ to the FundProvide resources as required to the AuditorActuarialArranging for lump sum and pension actuarial calculations as requiredTaxationPreparation of annual statutory financial accounts and Members’statementsPreparation of Goods and Services Tax (GST), Business Activity Statement(BAS) and Instalment Activity Statement (IAS) returns, as applicablePreparation of the ATO statutory returnsLodgement of all statutory reporting and returns to the ATODetermining the correct taxation payments for the Fund and its Membersand arranging paymentPreparation of all Minutes for the Trustees to signReview and completion of Trustee minutesInvestingCompletion of the Investment Strategy Proposal Form, requiring TrusteesapprovalProvision of securities advicePreparation and implementation of the Fund’s Investment StrategyObtain qualified investment advice from an appropriately licensed adviserfor each Fund investment being considered or undertakenInvestment portfolio administration – account openings; attending tosettlements, corporate actions, account reconciliation (e.g. cost history,rights issues, bonus shares, Initial Public Offering (IPOs), takeovers, etc)Responsibility for the Fund’s investments, including Trustee controlledassets e.g. direct property, non securitised investmentsReview and amend (where required) the Fund’s Investment StrategyReview and completion of Trustee Minutes as requiredbell potterpersonal supersolutionstrustees’obligationsMember6

PORTFOLIO ADMINISTRATIONUse of either the Bell Potter Cash Management Service or the BellPotter Cash Account as the financial hub of the Fund’s portfolio to enablereconciliation of all cash movementsInvestment cost history construction and maintenance to accuratelyidentify realised and unrealised capital gains tax positionsReporting of Trustee controlled assets e.g. direct property, non securitisedinvestmentsApplications for units in managed fundsDividends and income directed to Cash AccountArranging in specie and Off Market Transfer of investmentsCorporate actions defined and the Trustees instructions acted upon viayour AdviserRecording of all investments transactions, including:■■■■■■■■■■Purchases, sales and asset transfersIncome and dividends receivedReinvestment of dividends or distributionsCorporate actions – e.g. rights issues, bonus issues, term depositmaturitiesTransactions relating to Superannuation Loan ArrangementsCentral point of contact for investment administrative and superannuationissuesReconciliation and provision of portfolio data to the Fund AdministratorPayment of Member benefits, Fund taxes and expenses as directed by theFund AdministratorFUND ADMINISTRATIONResponsible for the administration of superannuation matters in relationto the Fund, including:bell potterpersonal supersolutionsbell potterpersonal supersolutionstrustees’obligationstrustees’obligations■■Member – contributions, benefit entitlements and tax components,preservation position, verification and authorisation of the payment ofbenefits■■■■Fund – statutory records and reporting to the ATO, review of ongoingFund compliance and advising Trustees of upcoming obligationsReporting – refer page 8Involvement in the Fund’s establishment, meeting tax obligations, audit,actuarial, Trustee reporting on movements of assets outside of the statedInvestment Strategy and provision of Trustees Minutessuper solutions.7

PART A. bell potter personal superannuation solutionsOverview of our service and Fund Administration continuedKeeping Trustees advised of movements of assets outside of theinvestment strategyPrivacy of Fund / Member records Retention of records in digital format for the mandatory 10 year periodreportingReporting to Members, Trustees and your Adviser:Quarterly Statement detailing:bell potterpersonal supersolutionstrustees’obligations■■The investment position of the Fund at the end of the quarter and anytransactions that have occurred during the period■■■■■■Deviations from the Investment Strategy asset allocation ranges,requiring the Trustees resolution to ensure on-going compliance Reconciliation of corporate actions associated with the Fund’sinvestmentsCapital gains tax (CGT) reconciliationAn Annual Report:■■A complete set of financial statements and an income tax returndetailing the operations of the Fund over the financial periodAn Annual Member Statement:■■This will show the current balance in each Member account and anymovements that have taken place over the yearAdvising Trustees of material or statutory upcoming obligations anddeadlinesPreparation of Minutes for the Trustees to review and complete; asoutlined aboveDaily investment reporting, where requested, via Bell Potter website (www.bellpotter.com.au)Transactions relating to Superannuation Loan Arrangements, andincluding the market value and the loan value of the facilitySuperannuation Loan ArrangementDocuments to establish Superannuation Loan Arrangements*■■■■■■■■Update of Investment StrategyPayments under loan agreementLoan ReportingRental agreement & insurance (Real Property)bell potterpersonal supersolutionstrustees’obligations*Some of the documents required to establish the Superannuation Loan Arrangements may require execution by other parties.8

Trust DeedsIt is recommended that all deedsbe prepared and reviewed bysmartsuper’s preferred legal supplierto ensure easy update and monitoringas legislation changes.■■■■A standard deed is sourced fromsmartsuper’s preferred legalsupplier for new Funds.For an existing Fund, the Trusteescan either:- Provide legal sign-off that thecurrent trust deed is a standarddeed providing Members with allentitlement options allowed bySuperannuation Law at the time oftransfer to the Bell Potter PersonalSuperannuation Solutions service;or- Request at the transfer stage, theDeed be amended by smartsuper’spreferred legal supplier.- Note: smartsuper assumes noresponsibility for ongoing Deedupdates until such time as theTrustees request that the Deedbe amended by smartsuper’spreferred legal supplier.■■■■Once the deed has been amendedto the standard, smartsuper’spreferred legal supplier willcontinue to provide updates tothe Trustees when changes areneeded.Neither smartsuper, nor BellPotter, assumes responsibility forthe content of the Trust Deeds, norwhether they are complying or not.Your investment advisersAs Trustees of the Fund, one ofyour key areas of responsibility isto manage the Fund’s investments.Trustees can obtain investmentadvice from suitably licensedinvestment advisers, including aBell Potter Adviser in relation to thesecurities markets.Bell Potter holds Australian FinancialServices licence 243480 issuedby ASIC, authorising Bell Potterto advise on a range of financialproducts, including:■■■■■■■■■■■■Securities, including domesticand international equities, fixedinterest and income-yieldingsecurities;Derivatives including exchangetraded options and warrants;Australian and internationalmanaged Funds;Bonds and debentures;Deposit and payment products;andSuperannuation LoanArrangements.The Fund administrator will facilitateall other investment transactionsas requested by the Trustees. TheTrustees must ensure that thesetransactions are allowed underSuperannuation Law, the Trust Deedand the Fund’s Investment Strategy.Trustees are recommended to obtainqualified investment advice froman appropriately licensed adviserfor each Fund investment beingconsidered or undertaken.Trustees are required to prepare andimplement an Investment Strategyfor the Fund, which should bereviewed regularly and updated asrequired. Refer to Part B ‘InvestmentStrategy’ for further informationregarding Trustee responsibilities.super solutions.9

PART A. bell potter personal superannuation solutionsWhat is the Trustee responsible for?The Bell Potter PersonalSuperannuation Solutions serviceprovides access to investment adviceand comprehensive administrationservices to the Trustees as outlinedabove. Whilst the Trustee can engageother people to do certain actsor things on their behalf, Trusteeresponsibilities include:■■■■■■■■■■■■■■■■■■determining each Member’scontribution status;setting, monitoring and reviewingthe Fund’s Investment Strategy andcomplying with SuperannuationLaw;making all investment decisions(see below);administering and accounting fornon-securitised investments;review, approval and executionof annual Fund accounts andstatutory returns;managing all Member andFund insurance requirementsand policies (e.g. life, total andpermanent disability, salarycontinuance, general insurance);review, approval and execution ofminutes;retention of some originaldocuments (e.g. trust deed) asdirected by the Fund Administrator;andprovision of informationand directions to the Fundadministrator, as required.Notwithstanding that the Trusteesobtain investment advice (whetherfrom a Bell Potter Adviser orotherwise), they retain responsibilityfor investment decisions, and musttake care to consider the suitability ofeach investment in the circumstancesof the Fund.This may include, but is not limitedto, considering the liquidity ofinvestments, the extent to which aninvestment might involve gearing andthe exposure of the Fund to magnifiedlosses as well as gains, and theextent to which an investment meetsthe Trustees’ requirements regardingdiversification.10

FEES AND OTHERCOSTSThe tables below show fees and other costs charged by Bell Potter and smartsuper for various services provided by them.Fees quoted in this table (excluding ATO levy) include the Goods and Services Tax (GST) and will be liable to change ifthe rate of GST changes in the future.NEW SMSF – ESTABLISHMENT COSTSType of fee or cost Amount How and when paidEstablishment fee for new SMSF $660 Payable upon Fund establishment.Trust Deed Preparation Fee $550 Payable upon Fund establishment.Subsequent amendments $220Payable upon request for theservice.Termination fee to close your investmentexisting SMSF – ESTABLISHMENT COSTSNil(See page 12 Note 1 regarding chargesif you terminate your Fund within 12months of commencement).Generally not applicable.Type of fee or cost Amount How and when paidPrevious Financial Year accountsIf you are transferring an existing SMSF to our Bell PotterSMSF service and your existing SMSF’s accounts and taxreturns need to be prepared for previous years, you will becharged this fee for each year the accounts and tax returnsneed to be prepared by smartsuper pty limited.$1,650 Payable upon transfer of yourSMSF to our Bell Potter SMSFservice.Reconciliation feeBell Potter will disclose any additional fee, if applicable,to reconcile investment history onto our administrationservice upon the transfer of your existing Fund.If applicable, a fee will beadvised.Payable on request for the service.Trust deed amendmentsAmend an existing trust deed to smartsuper’s preferredlegal supplier’s standard as a result of the written review$660 Payable on request for the service.Subsequent amendments $220 Payable on request for the service.Termination fee to close your investmentNil(See page 12 Note 1 regarding chargesif you terminate your Fund within 12months of commencement).Generally not applicable.11

PART A. bell potter personal superannuation solutionsONGOING MANAGEMENT COSTS – OPTION 1Type of fee or cost Amount How and when paidAnnual Fee 1On the first $500,000 1.30%plus,on the next $500,000 1.10%plus,Fund administration fees 2 on the next $1,500,000 0.77%plus,on the balance over$2,500,000 0.55%Subject to a minimum monthly fee of $325Payable monthly in arrears fromyour Fund’s assets.Investment costs/Brokerage and commissionsManaged InvestmentsAs agreed with your Bell Potter AdviserRefer to the current Product DisclosureStatement (PDS) of each investmentor contact the investment managerthemselves for details of these fees.Buy-sell spread 3 - refer to ‘Additionalexplanation of fees and costs’ below.Payable as applicable from yourFund’s assets.Deducted from your investment bythe Fund manager of the managedinvestment scheme.ONGOING MANAGEMENT COSTS – OPTION 2 (BROKERAGE INCLUDED - UP TO 20 ASX Listed TRADES PER FINANCIAL YEAR)Type of fee or cost Amount How and when paidFund administration fees 2Investment costs:Brokerage and commissionsAnnual Fee 1On the first $500,000 1.70%plus,on the next $500,000 1.50%plus,on the next $1,500,000 1.00%plus,on the balance over$2,500,000 0.66%Subject to a minimum monthly fee of $450Brokerage for 20 ASX listed tradesis included as part of the Fundadministration fees per financial year 4 .Beyond this, fees apply as agreed withyour Bell Potter AdviserPayable upon transfer of yourSMSF to our Bell Potter SMSFservice.Payable as applicable from yourFund’s assets after free trade limithas been exceeded.12Managed InvestmentsRefer to the current Product DisclosureStatement (PDS) of each investmentor contact the investment managerthemselves for details of these fees.Buy-sell spread 3 - refer to ‘Additionalexplanation of fees and costs’ below.Deducted from your investment bythe Fund manager of the managedinvestment scheme.1 The fee is charged monthly and is calculated as a percentage of the Fund value as at the end of each month. If the Fund is administered for less than 12 months, thebalance of 12 months fees will apply.2 This fee includes an amount payable to an adviser (see ‘Adviser remuneration’ under the heading ‘Additional explanation of fees and costs’ on page 15).3 The buy-sell spread is the difference between the price an investor buys units in a managed fund and the price an investor sells (redeems) units in a managed fundto the fund manager, at any particular point in time. The difference is typically 0.4% and represents the cost to the fund manager of issuing and redeeming units andrecouping these costs from the investor.4 20 Trades are included regardless of the value of each trade, or at which point the fund administration transfer occurs during the financial year.

Worked examples ofadministrator feeIf the Fund value is $200,000, theAdministration Fee for a 12 monthperiod is $3,900 under the standardfee structure, or $5,400 under thebrokerage-included management feestructure. These are the minimumfees applicable.If the Fund value is $750,000, theAdministration Fee for a 12 monthperiod is $9,250 under the standardfee structure, being 1.3% of $500,000($6,500) plus 1.1% of $250,000($2,750).Alternatively, under the brokerageincludedfee structure, theAdministration Fee for a 12 monthperiod is $12,250, being 1.70% of$500,000 ($8,500) plus 1.50% of$250,000 ($3,750).This example highlights theadministration fees only and doesnot include total fees that would beincurred. Other fees apply as set outin the tables given.Additional explanationof fees and costsBuy-sell spreadIn the event that you invest part ofyour Fund in managed funds, a buysellspread may apply.This fee is not charged to youseparately, rather it is reflected in theunit price of the relevant managedfund. Information relating to the buysellspread is included in the PDSdocument(s) of any relevant managedfunds held by the Fund.Transaction costsOther fees such as stamp duty,government charges on monetarytransactions and managed fundentry fees might also be incurred byyour Fund as a result of investmentdecisions. This will depend on thenature of the underlying investmentsand the arrangements with youradviser.Superannuation loan arrangementIf your Fund enters into aSuperannuation Loan Arrangement,it will in most cases be requiredto pay ongoing borrowing fees andcosts (and interest) to the lender(and may also be required to payfees and costs to the security trusteewhich holds the asset acquiredunder the Superannuation LoanArrangement). Please refer to thedisclosure documents relating to theSuperannuation Loan Arrangemententered into by the Fund for anunderstanding of the applicableinterest, fees and costs.Death and disability insurancechargesIf you elect for the Trustees toarrange for an appropriate policyof insurance to be provided, theTrustees will deduct the requiredinsurance premiums from yourMember account at the end of eachmonth or such other period asdirected. The amount of insurancepremiums deducted will depend onfactors such as your age, level ofcover chosen, smoker status and anyloading put in place by the arrangedinsurer.Asset valuationsAuditors will generally requirevaluations to be supplied for assetsthat cannot be readily valued, suchas real estate, shares in privatecompanies or units in unlisted trusts.The extent of these valuations will bedetermined by the auditor and mayincur additional costs.Incomplete applicationsIn accordance with the provisionsof the Corporations Act, theAdministrator deposits money itreceives relating to incompleteor out of date applications intoa Bell Potter Cash ManagementService (CMS) or Bell Potter CashAccount (CA), pending receipt of acompleted Application Form. Wherethe Administrator places deposits inrelation to incomplete applications inthe CMS or CA pending completion,the interest credited on the depositwill be the interest rate payableby the CMS or CA, as applicable. Amanagement fee may be deducted,and you .should refer to the PDS orProspectus for the CMS or CA for fulldetails of applicable fees.super solutions.13

PART A. bell potter personal superannuation solutionsThere are other costs associated with the provision of services to the Fund. These are set out below:Service Costs Amount How and when paidAudit feeThis is the cost for the annualaudit of your Fund 5$550 per Fund p.a.Note: non-complying Funds or Fundswith special circumstances may becharged an additional fee.Payable annually from your Fund’s assets, tothe Fund’s auditor.ATO levyThis is the cost for prudentialregulation of your Fund.$150 per Fund p.a. Payable annually from your Fund’s assets to theAustralian Taxation OfficeActuarial service feeThis is the cost forpreparation of your Fund’sactuarial certificatesADVISER SERVICE FEEThis is the fee for additionalongoing investment adviceprovided by your Adviser andis in addition to brokerage.Other servicesPension TypetypeTransition to Retirement Pension,Allocated Pension and Term AllocatedPensionAnnual certificate $275Defined benefit pensioninitial certificate (per pension) $522.50Additional annual certificatesper additional pension $165Residual capital value pensionAdditional charge per pension if anypension has a residual capital value onmaturity $165Up to 1.35% p.a. calculated as apercentage of the Fund value as at theend of each quarter.From time to time you may requireother services not specifically coveredin this table. These will generally benegotiated with you based on the level ofservice required but will be charged at aminimum of $110 per hourPayable upon pension commencement, andthen as required, from your Fund’s assets to theActuary.As agreed between you and your Adviser.Payable on request for the service.5 These fees only apply where Ure Lynam is the chosen Auditor. Ure Lynam is the independent accountant which supplies audit services to BPPSS as the default auditor.The Trustees must negotiate their own fee with any other auditor.14

Preparation of prior year financialaccountsIf your prior financial year accountsare incomplete, we will prepare theseaccounts for you. The preparationof prior year financial accounts ischarged at a minimum of $1,650per each year and is payable to theAdministrator. Additionally, for eachyear’s accounts we prepare, the Fundmay also pay an audit fee of $550 p.a.and an annual ATO levy. Bell Potterwill disclose any additional fee, ifapplicable, to reconcile investmenthistory onto our administrationservice upon the transfer of yourexisting Fund.Variation of feesWe reserve the right to change theadministration fee structure and/orrates at any time. When any changesneed to be made we will provide youwith at least 30 days’ prior writtennotice.The fees for external parties (auditor,actuary etc) are outside our controland may change at any time.Additional or new fees may be leviedat any time by any of the third partiesor regulatory bodies. Where possiblewe will endeavour to advise you ofany such changes as they occur.Adviser remunerationYour Adviser may receive ongoingcommissions for the sale of thisservice and the ongoing financialservices being provided to your Fund.The fees are deducted from yourFund’s operating cash account andare payable monthly in arrears.Advisers may receive a salary, salaryand a discretionary bonus, or aproportion of the brokerage/feescharged by Bell Potter. Advisers mayreceive 45 – 50% of all fees and chargesgenerated from their clients, dependingon the level of salary and the aggregaterevenue that they earn for Bell Potter.This will not impact on the cost to you.Example: If the fees payable to BellPotter pursuant to this DisclosureDocument are $1,100, after deductingGST of $100, your adviser wouldreceive $450, or $500 if the higherpercentage is payable.Your Adviser’s standard remunerationis paid out of the Administration Fees,after deducting service provider feesfor Fund and Member administrationof 0.22% p.a. of the balance of yourFund, with a minimum fee of $1,650p.a. and a maximum fee of $5,500 p.a.The balance of the AdministrationFees are retained by Bell Potter.Example: Option 1 (Brokerageexcluded): If the Fund value is$200,000, the Administration Fee fora 12 month period is $3,900, beingthe minimum fee. From this fee,Bell Potter pays the service provider$1,650 p.a. and retains $2,250 p.a.Example: Option 2 (BrokerageIncluded): If the Fund value is$200,000, the Administration Fee fora 12 month period is $5,400, beingthe minimum fee. From this fee BellPotter pays the service provider$1,650 p.a. and retains $3,750 p.a.In addition, an Adviser Service Feemay be negotiated between you andyour Adviser. The Adviser ServiceFee is agreed between you and yourAdviser upon Fund establishment.This fee will be payable quarterly inarrears from your Fund’s assets, upto a maximum of 1.35% p.a. of thevalue of the Funds assets p.a.Example: If the Fund value is $200,000and the agreed Adviser Service Feeis 1.35% p.a. the cost to you is $2,700p.a. This fee will be payable quarterlyin arrears from your Fund’s assets.Note: Examples above highlightadministration fees payable only.Other fees apply.Where you decide to invest inmanaged funds, remunerationpayable to Bell Potter may also bereflected in the unit price or netinvestment returns of that investment.You should refer to the PDS for thespecific managed fund(s) for fulldetails of the fund’s fees and whetherand how they may be negotiated.Where a Bell Potter CashManagement Service (CMS) accountis used as the Fund’s working cashaccount, a commission of 0.275%p.a. of the Fund’s cash balance willbe paid to Bell Potter. This is not anadditional charge paid by the Fund.Example: If the value of the Fund’sCMS account is $20,000, then 0.275%p.a. or $55.00 p.a. is paid by themanager of the CMS to Bell Potter.This is not an additional charge paidby the Fund. Bell Potter then paysyour Adviser according to the 45% -50% formula above i.e. $22.50 p.a.(adjusted for GST).Where a Bell Potter Cash Account(CA) is used as the Fund’s workingcash account, a commission of up to0.25% p.a. of the Fund’s cash balancewill be paid to Bell Potter. This is notan additional charge paid by the Fund.Example: If the value of the Fund’sCA is $20,000 then 0.25% p.a. or$50.00 p.a. is paid by the managerof the CA to Bell Potter. This is not anadditional charge paid by the Fund. BellPotter then pays your Adviser according15super solutions.

PART A. bell potter personal superannuation solutionsto the 45% - 50% formula above i.e.$20.45 p.a. (adjusted for GST).Increases or alterations in theAdviser’s remunerationIn line with the ongoing financialservices provided for your Fund, incertain circumstances you and yourAdviser have the ability to negotiatehigher or lower remuneration thanthe Adviser’s remuneration referredto above.Details of the additional Adviser feemust be provided on your ApplicationForm at the back of this DisclosureDocument or by your separate signedadvice. You can cancel or change thisarrangement by providing the Trusteeand your Adviser with written notice.If you do decide to cancel any sucharrangement with your Adviser, thestandard fees and Adviser remunerationarrangement referred to above willthen apply; however, there may bea change in the service providedand you should discuss this withyour Adviser.Please consult the Financial ServicesGuide provided to you by your Adviserfor more information about thecommissions that Bell Potter willreceive in relation to investmentadvice provided.16your privacyWhat does the Privacy Act legislationmean to me?Since 21 December 2001, laws haveprotected the privacy of your personalinformation where held by certainprivate sector organisations.The Trustees, Bell Potter andsmartsuper are governed by theselaws. From time to time the Trustees,Bell Potter and smartsuper willcollect personal information aboutyou from various sources, includingfrom the Application Forms youcomplete. The trustees may provideinformation collected from members toBell Potter on an ongoing basis for thepurpose of managing a Fund.The Trustees, Bell Potter andsmartsuper must, as a result, provideyou with the following informationin respect to their handling of yourpersonal information.What is my personal informationused for?Your personal information is used to:■■■■■■■■■■administer your Fund and makeinvestments;facilitate Bell Potter andsmartsuper’s internal businessoperations, including fulfilment ofany legal requirements;assist your Bell Potter Adviser inproviding advice to you;analyse Bell Potter’s andsmartsuper’s services andcustomer needs and develop newor enhanced services;carry out confidential maintenanceand testing of computer systems.Who else will receive access to mypersonal information?The Trustees, Bell Potter andsmartsuper may disclose yourpersonal information (as necessary):■■on a confidential basis to industrybodies, your adviser, contractors orthird party service providers that■■■■provide financial, administrativeor other services to the Fund, BellPotter or smartsuper;where the law requires them to do so;if you consent.From time to time, your adviser mayprovide you with marketing materialprepared by Bell Potter. If you do notwant to receive such material at anytime in the future, please contactyour adviser.How do I access information you holdabout me?You are entitled at any time to requestaccess to personal informationheld by the Trustees, Bell Potter orsmartsuper about you and ask themto correct this information where youbelieve it is incorrect or out-of-date.No fee will be charged for an accessrequest but you may be charged thereasonable costs of providing you anyinformation you have requested.Where and when can I get moreinformation about the Privacy Act?The Bell Potter Privacy Policy andsmartsuper Privacy Brochure setout in detail their policies on themanagement of personal information.You can obtain a copy of these freeof charge by contacting either BellPotter or smartsuper, if required.InformationShould you require any informationabout the services or the Fund coveredin this disclosure document, or requireany clarification you should contact:Bell PotterDirector of Products and MarketingBell Potter Securities LimitedLevel 33, Grosvenor Place225 George StreetSYDNEY NSW 2000Tel 02 9255 7200Fax 02 9255 7227Toll free 1800 777 725Email bppsfadmin@bellpotter.com.auWebsite www.bellpotter.com.au

PART B. bell potter self managed superannuation FundWHAT ISSUPERANNUATION?Superannuation is a long-termsavings arrangement that operatesprimarily to provide income forretirement. Superannuation generallyinvolves employers, the selfemployedand/or employees makingcontributions on a regular basis overa long period to a superannuationFund. Generally, individuals underthe age of 65 years are eligibleto contribute to Superannuation.Unsupported persons mayalso be eligible to contribute tosuperannuation and claim a taxdeduction up to the relevant limits.An unsupported person is classifiedas an individual whose employmentincome is less than 10% of theiradjusted total income * .The Fund holds the contributionsin trust for the Member and investsthe contributions with the aim ofgenerating an investment return tosupplement the contributions madeto the Fund. These assets are thenused to provide benefits to Members,usually when they retire or suffer aserious disability, or to a Member’sfamily or estate if the Member dies.The Government taxessuperannuation savings atconcessional rates if the Fundcomplies with certain conditions.What is a Self-ManagedSuperannuation Fund (SMSF)?Australians can choose to contributetheir personal superannuationcontributions to an independentlymanaged superannuation Fund orto an SMSF.SMSFs (also known as DIY Funds)perform the same role as otherFunds, by investing contributions andmaking them available to Memberson retirement. The differenceis, generally, that the Members(maximum 4 Members) of selfmanagedsuper Funds are also theTrustees of the Fund – they controlthe investment of their contributionsand the payment of their benefits.With all Members being Trustees,they are in a position to ensure theirinterests as Members are protected.For an SMSF to be considered acomplying superannuation Fundfor the purposes of the Tax Law -and thereby receive concessionaltaxation treatment - it must first bea regulated superannuation Fund,having complied with SuperannuationLaw requirements (discussed onpage 18).* taxable income, adjusted fringe benefits, tax-free pension or benefits, target foreign income, reportable employersuperannuation contributions, total net investment losses less deductible child maintenance expenditure.17

PART B. bell potter self managed superannuation FundWHO LOOKS AFTERTHE FUND?THE TRUSTEEAll superannuation Funds arerequired to appoint Trustees.Trustees are responsible for ensuringthe Fund is properly managed andthat it complies with SuperannuationLaw and other legal obligations.A Trustee of an SMSF must act inaccordance with:■■■■■■the superannuation Fund TrustDeed;Superannuation Law; andother general laws, for examplethose imposed under Tax Law andtrust law.Superannuation Law containscovenants that impose minimumrequirements on Trustees, and aredeemed to be included in the TrustDeed of every Regulated Fund.These covenants reflect the dutiesimposed on Trustees under trustlaw in general. Superannuation Lawcovenants bind Trustees to:■■■■■■■■■■■■act honestly in all matters;exercise the same degree of care,skill and diligence as an ordinaryprudent person would exercisewhen acting on behalf of others;act in the best interest of the FundMembers;keep the assets of the Fundseparate from other assets (e.g.the Trustee’s personal assets);retain control over the Fund so thatthe Trustee’s powers and functionsare not hindered;develop and implement aninvestment strategy that meetscertain standards;■■ develop and implement amanagement strategy that meetscertain requirements for reservesmaintained in the Fund; and■■ allow Members access to certaininformation.Delegating certain responsibilitiesto service providersWhilst Trustees can engage otherpeople to do certain acts or thingson their behalf (e.g. engagingthe services of an accountant,superannuation fund administrator,tax agent, investment planner,auditor, etc), they are bound to remainresponsible for the Fund. Ultimateresponsibility and accountabilityfor running the Fund in a prudentmanner and complying with legalrequirements lies with the Trustees.Who can be a Trustee?Essentially, anyone over the age of 18can be a Trustee of a superannuationfund except if they are a disqualifiedperson. An individual is a disqualifiedperson if:■■■■■■■■at any time, the person has beenconvicted of an offence involvingdishonesty, orat any time, the person has beensubject to a civil penalty orderunder Superannuation Law, orthe person is an insolventunder administration (e.g. anundischarged bankrupt); orthe regulator has disqualified theperson from acting as Trustee.There is a general requirement thateach member of a Fund must alsobe a trustee of the Fund. Additionally,for sole-member Funds an additionaltrustee can be appointed to meetlegal requirements, or the Fund canappoint a corporate trustee of whichthe member is a Director.MinorsMinors (Members under 18 years ofage) are considered to be under alegal disability and are unable to actas Trustees of a superannuation fund.Where a minor is to be a Member ofan SMSF, the minor’s legal personalrepresentative, or parent or guardianif the minor does not have a legalpersonal representative, can be aTrustee in place of the minor.Legal personal representativeA legal personal representative can bea Trustee (or director of a CorporateTrustee) in place of a Member whois under a legal disability or if therepresentative holds an enduring powerof attorney in respect of the Member.Death of a MemberA legal personal representative canbe a Trustee (or director of a CorporateTrustee) in place of a deceased Member,up until the time that death benefitsare paid from the SMSF.Following the death of a member, theSIS Act specifies circumstances inwhich an entity that does not satisfybasic conditions will still remain aself managed superannuation fund.A fund does not cease to be a SMSFuntil the earlier of the followingtimes:a. The time an RSE licensee of thefund is appointed;b. Six months after it would socease to be a self managedsuperannuation fund.18

A company would not be permittedto act as Trustee if:■■ a responsible officer of that companyis a disqualified person (a responsibleofficer includes a director, secretaryor executive officer); or■■ a receiver, official manager, orprovisional liquidator has beenappointed to the company; or■■ action has commenced to wind upthe company.Who looks after the fund?An SMSF can have either individualTrustees or a Corporate Trustee andmust ensure:■■■■■■each Member of the Fund is aTrustee or a director of the trusteecompany (i.e. Corporate Trustee);no Member of the Fund is anemployee of another Member ofthe Fund, unless those Membersare related; andno Trustee, or director of atrustee company, of the Fundreceives remuneration for his orher services as a Trustee. (Note:Trustees can receive remunerationfor non-trustee services theyprovide to the Fund in a separateprofessional capacity).Single Member FundIt is possible to have an SMSF withonly one member. If the SingleMember Fund has a CorporateTrustee, the Member must:■■■■■■be the sole director of the Trusteecompany; orbe related to the other directorof the trustee company andthe Member is one of only twodirectors of that company; ornot be an employee of the otherdirector of the trustee companyand the Member is one of only twodirectors of that company.If the single member Fund does nothave a Corporate Trustee, the Fundmust have two individuals as Trustees.The Member must be the Trustee with:■■■■another person who is a relative ofthe Member; orany other person, provided theMember is not an employee of thatperson.The sole purpose testTrustees must ensure that the Fundis maintained for the purpose ofproviding benefits to Members upontheir retirement or attainment ofage 65, or their dependants or legalpersonal representative in the case ofa Member’s death. Certain additionalbenefits, such as benefits paid ondisability or in circumstances of illhealth,are also allowed to be provided.Accepting contributionsIt is important that Trustees areaware of the standards relating to theacceptance of contributions underSuperannuation Law. Please refer tothe ‘Contributions’ section on page 20for more information.Managing investmentsA key area of responsibility forTrustees is investment management.The Superannuation Law places certainduties and responsibilities on Trusteeswhen making investment decisions.Core obligations of the Trustees are toprotect and increase Member benefitsover time for retirement purposes.Paying benefitsIn contrast to lump sum withdrawals,a Member’s pension incomewithdrawals from a Fund may only bepaid in the form of cash (rather thanFund assets), in accordance with therequirements of the SuperannuationLaw. The payment standards of theSuperannuation Law work with thesole purpose test and the legislatedpreservation rules (regulationsregarding the release of Fund assets)to ensure monies in the Fund areonly paid to Members in appropriatecircumstances.Administrative obligationsThere are a range of administrativeobligations imposed on an SMSF.Trustees are responsible for ensuringthese obligations are met. Failureto do so may result in the Trusteesbeing fined and may also jeopardisethe Fund’s eligibility for tax concessions.InvolvementAll Members/Trustees are obligatedto be involved in the decisionmakingprocesses of the Fund andshare responsibility with the otherMembers/Trustees for the protectionand appropriate investment of theFund assets.THE AUDITORThe Fund is required to have thefinancial accounts and statementsaudited each year by an approvedauditor (financial audit). In addition,the Approved Auditor is required toassess the Fund’s overall compliancewith Superannuation Law (complianceaudit). The audit report is requiredto be completed the day before theFund is required to lodge its combinedincome tax and regulatory return andAuditors must provide a certificate tothe Trustees stating that the Fund hasbeen audited.Auditors are obliged to bring to theattention of Trustees any concernsabout the Fund’s financial positionor the Fund’s compliance withSuperannuation Law. In somecircumstances auditors may berequired to inform the AustralianTaxation Office of the issue.The Trustees can appoint any‘Approved Auditor’ to perform theaudits. An Approved Auditor may be aregistered company auditor under theCorporations Law or be a member ofone of the following bodies:■■■■■■■■■■CPA Australia Limited– Member.The Institute of CharteredAccountants in Australia –Member.National Institute of Accountants –Member.Association of Taxation andManagement Accountants -Member or Fellow.National Tax and AccountantsAssociation Ltd – Fellow.super solutions.19

PART B. bell potter self managed superannuation FundABOUT YOUR FUNDTYPES OF MEMBER ACCOUNTSMember accounts can be either:■■■■Accumulation accounts wherecontributions are made toaccumulate superannuationbenefits for retirement; orPension accounts where benefitsare paid from the Fund as incomestreams.Please see the section entitled‘Your Benefits’ on page 26 for moreinformation.RESERVESThe Fund may, from time to time,establish reserve accounts forany purpose permitted underSuperannuation Law. Any incomeearned on amounts retained inthese reserves will be taxed at thestandard superannuation tax rate of15% irrespective of whether all theMembers are in pension phase or not.These reserve accounts must bereviewed annually to determinewhether any amounts should bere-distributed from these reserves.Providing the amount allocatedfor the year is less than 5% of themember’s interest in the fund, thenthe transfer will not be treated as aconcessional contribution. This isthe 5% “fair and reasonable” rule.The Trustee must develop andimplement a strategy to managethose reserves in accordance withSuperannuation Law.NOMINATION OF DEPENDANTSWhen applying to join the Fund, orat any time, you may make a deathbenefit nomination. The two availablenominations are:A non-binding nominationIn the event of your death, thebalance of your Member accountwill be paid to one or more of yourDependants and/or your legalpersonal representative, in suchproportions and such manner (ifpaying to more than one) as theTrustees determine. In exercisingtheir discretion, the Trustees willhave regard to your death benefitnomination, but are not bound by it.Please note that Fund Trusteesare not bound by any instructionscontained in a will but can take theminto account in determining a nonbindingMember nomination payout inthe event of death.A binding nominationIn the event of your death, the balanceof your Member account will be paid toone or more of your Dependants and/or your legal personal representativein such proportions (if paying to morethan one) as you nominate. In orderfor your nomination to be valid, certainformalities must be met. Care shouldbe taken to ensure that any bindingnominations are reviewed regularlyto ensure they continue to meet yourneeds. For example, benefits could bepaid to a former spouse if a bindingnomination specifying the former spousewas not cancelled at the time of divorce/separation and he or she continued toqualify as your Dependant.Members can add or change anydeath benefit nomination at any timeby notifying the Trustees in writing.A binding nomination needs tobe refreshed every 3 years undersuperannuation legislation in orderto maintain validity.TRUST DEEDMember benefits can only be dealtwith in accordance with the provisionsof the Fund’s Trust Deed (asrestricted by Superannuation Law).From time to time it will be necessaryto amend the Trust Deed to meetchanged legislative requirements orMember needs to ensure the Fundremains compliant with SuperannuationLaw. Any costs to do this will be met bythe Fund. Please refer to the sectionheaded ‘Fees and Other Costs’ on page11 for details of the fees applicable as atthe date of this Disclosure Document.CONTRIBUTIONSContributions to your Fund can bemade at any time by yourself, yourspouse, or your employer, providedthe contribution is permitted underSuperannuation Law. Regularcontributions can be made by periodicpayments from your nominated bankaccount. Superannuation Law imposesmaximum limits on contributionsto your Fund.You may also transfer your existingsuperannuation entitlements intothe Fund. This will enable you toconsolidate your superannuationbenefits in the one Fund.The following definitions apply forthis section:20

Gainfully employed means employedor self-employed for gain or rewardin any business, trade, profession,vocation, calling, occupation oremployment. Gain or reward is thereceipt of remuneration such aswages, business income, bonusesand commissions, in return forpersonal exertion from theseactivities. It does not include passivegaining of income (e.g. receipt of rentor dividends).Full-time employment means gainfulemployment for no less than 30 hourseach week.Part-time employment means gainfulemployment for at least 10 hours perweek.Eligible spouse contributions arecontributions made by a person forthe benefit of their spouse.THE FUND WILL ACCEPTTHE FOLLOWING TYPES OFCONTRIBUTIONS:Contributions to your Fund can onlybe made to an accumulation account.Your superannuation contributionswill be recorded by two classificationtypes for taxation purposes:‘Concessional’ and ‘Non-concessional’contributions.The table below is a summary ofhow components will be classified.The types of contributions that canbe made to your Fund are explainedbelow.Please note that the caps apply permember not per fund.CONTRIBUTION TYPESCLASSIFICATION FORTAX PURPOSESTAXATION PAYABLE ONCONTRIBUTIONCONTRIBUTION CAP‘CONCESSIONAL’ CONTRIBUTIONSMember concessionalcontributionsEmployer contributions Concessional 15%Salary sacrifice contributions Concessional 15%‘NON-CONCESSIONAL’ CONTRIBUTIONSConcessional 15% Total Concessionalcontributions are capped to$25,000 p.a. 1Member personalcontributionsNon-concessionalNo tax up to non-concessionalcontribution limitSpouse contributions Non-concessional No tax up to non-concessionalcontribution limitTotal assessable nonconcessionalcontributionscapped at $150,000 p.a. 2Government Co-contribution Non-concessional Nil ExemptSuperannuation CGT CapAmountCompensation due to injuryresulting in permanentdisablementNon-concessional Nil Exempt up to a lifetime limitof $1.155M 3Non-concessional Nil Exempt 4Notes:1 From 1 July 2009, Concessional contributions to superannuation are limited to $25,000 per person per annum. This cap will be indexed to Average Weekly Ordinary TimeEarnings (AWOTE) but will change only when the increase is more than $5,000. A transitional period applies for Members aged 50 and over, refer to the section ‘Concessionalcontributions limit’ on page 23 for further information.2 The non-concessional contributions cap is calculated by multiplying the standard Concessional Contributions cap for the relevant year by 6. Those Members under the age of65 (on 1 July in the income year in which the contribution is made) can “bring forward” the non-concessional contributions for the following two years (i.e. for 2010-2011 sucha Member could make non-concessional contributions of $450,000, but would then be unable to make any Non-concessional contributions in the following two years). Refer tothe section ‘Non-concessional contributions limit’ on page 23 for further information.3 Certain requirements of the Tax Law must be met for the exemption to apply. If you are claiming an exemption for the sale of small business assets you must elect for theexemption to apply and the proceeds from the sale may only be received into your Fund by a rollover. To claim this exemption an Australian Taxation Office form ‘ETP-CGTExempt Rollover Form’ needs to be completed and returned to the Australian Taxation Office.4 The exemption is available for certain compensation payments for personal injuries resulting in permanent disablement. This does not include insurance proceeds.The personal injury election must be submitted to the fund on, or before, the contribution is made.Note: The above table does not include the Medicare levy.super solutions.21

PART B. bell potter self managed superannuation FundConcessional contributionsConcessional contributions include pretaxcontributions from your employereg. Superannuation Guarantee orAward obligation (‘mandated employercontributions’) and salary sacrificecontributions (refer below). Membercontributions that are claimed as a taxdeduction are also considered to beconcessional contributions.Salary sacrifice contributionsYou may elect to have your employerpay more than the mandatedemployer contributions into yourFund. These contributions arecalled salary sacrifice contributionsif they are made from your pre-taxsalary, and they are considered to beemployer contributions. You shouldspeak to your employer about how youwish to structure your remuneration.Non-concessional contributionsNon-concessional contributions arecontributions made with after-taxfunds and include your personalcontributions for which no taxdeduction is claimed, contributionsmade by your spouse for your benefitand the Government Co-contribution.Funds may not accept non-concessionalcontributions where a Tax File Numberhas not been provided by the Member.ACCEPTING CONTRIBUTIONSYour Fund can only accept contributionsin the following circumstances:For Members under age 65■■ Contributions to your Fund can bemade at any time by the Member,their spouse (refer below) oremployer.For Members aged 65 or over butless than 70■■ Contributions made by the Member,their spouse, or voluntary employercontributions (including salarysacrifice contributions) can only beaccepted if the Member is gainfullyemployed on at least a part-timebasis (i.e. for at least 40 hours in any■■30 consecutive day period of therelevant financial year).Mandated employer contributionsmay be accepted regardless of theMember’s employment level * .For Members aged 70 or over butless than 75■■ Contributions made by theMember or voluntary employercontributions (including salarysacrifice contributions) can only beaccepted if the Member is gainfullyemployed on at least a part-timebasis and the contributions arereceived on or before the day thatis 28 days after the month in whichthe Member turns 75.■■*Mandated employer contributionsmay be accepted.For Members aged 75 or over■■ Only mandated employercontributions can be accepted.Spouse contributionsYour spouse is able to makecontributions to your Fund on yourbehalf; these are referred to asspouse contributions.The contributing spouse can beany age and does not need to bean Australian resident or taxpayer.The receiving Member must meetthe contribution eligibility rules asspecified for Member contributionsabove. If a rebate is to be claimedfor the spouse contributions, certainconditions must be met.For the purpose of spousecontributions, legislation defines aspouse to be a spouse at the time thecontribution was made. This includesde facto spouses living with theMember, including same-sex spouses.Your Fund can receive any Cocontributionthat the AustralianTaxation Office (ATO) calculates ispayable to you. You will, of course,need to meet the Government’seligibility requirements forsuperannuation Co-contribution. YourAdviser can provide more informationabout those requirements.Child accountsContributions made by or on behalf ofchildren (under 18 years of age) canbe accepted by the Fund. However,if the contributor is seeking to claimany amount of the contribution as atax deduction, then the child must begainfully employed on at least a parttimebasis.In-specie contributionsTrustees of regulated superannuationfunds are prohibited from acquiringassets from related parties of the Fund(including Members, their relativesand their related entities) unless thereis a specific exemption. Examples ofsome exceptions allowing trustees topurchase assets from related partiesor accept Member contributions tothe Fund in the form of an asset otherthan cash (known as an in-speciecontribution) are:listed securities* contributions made by an employer on behalf of an employee to satisfy super guarantee obligations, or satisfy an award made or agreement certified by an industrialauthority22■■■■■■units in a ‘widely-held’ unit trust- (being a unit trust scheme witha prospectus or PDS lodged withASIC, which has no less than300 unit holders, none of whomindividually or together with anyassociated person, are beneficiallyentitled to more than 20 per cent ofthe units in the trust);business real property acquiredat market value or credited to therelevant Member’s account atmarket value.If you would like to transfer inspecieor off-market assets into yourFund, you will need to complete aContribution Form and a StandardTransfer Form or CHESS TransferForm. All of our forms are availablefrom our website.If you require further informationabout transferring assets or taxmatters concerning the transfer of

assets into or out of your Fund, youshould consult with your Adviser orTax Adviser. For example, there maybe Capital Gains Tax implications.ROLL-OVERS AND TRANSFERSMembers’ benefits can generallybe rolled-over or transferred withinthe superannuation system with theconsent of the Member concerned. Itis important to remember that a rollover or transfer of superannuationmoney to an SMSF is not a contribution,and therefore can be instigated atany age and will not impact on anycontribution limits.Contribution limitsThe following contribution limitsare effective from 1 July 2010.The concessional limit is indexedto Average Weekly Ordinary TimeEarnings (AWOTE) but will onlyincrease in $5,000 increments.Concessional contributions limitIf you are under 50 years of age yourconcessional contributions are limitedto $25,000 per Member per annum.A transitional period will apply forMembers who are aged 50 and above.The transitional period is for thefinancial years 2009/10 to 2011/12.During this time Members aged 50and over will have a concessionalcontribution limit of $50,000 per annum.Concessional contributions up tothe respective limits will incur 15%contributions tax. Contributions inexcess of the respective limits willincur 15% contributions tax and anadditional tax of 31.5%. Excessiveconcessional contributions will counttoward the non-concessional limit.Please note that excess concessionalcontributions tax is incurred bythe member, however a membermay apply to the ATO for a releaseauthority to release superannuationbenefits for the payment of excessconcessional contributions tax.The ATO will be notified of theconcessional contributions youmake, or are made for you. Whenconcessional contributions are inexcess of the relevant limit, theadditional tax is payable by you(not your Fund). Where eligible,you may request that the Trusteesrelease monies from your Fund topay the excess contributions taxby completing a Withdrawal Form.Should the amount in your accountbe less than the amount specifiedin the Withdrawal Form, the fullamount will be withdrawn from youraccount and any remaining liability forexcess contributions tax will need tobe settled using other assets(e.g. other superannuation accountsor personal assets).Non-concessional contributionslimit (set at six times the standardconcessional limit)Non-concessional contributions arelimited to $150,000 (in the 2010/2011financial year) per member perannum. Members under the ageof 65 can bring forward two years’worth of entitlements to nonconcessionalcontributions, by makingcontributions totalling $450,000(over three financial years) withoutexceeding the non-concessionalcontributions cap. The Fund cannotaccept single non-concessionalcontributions totalling more than thisin a year.Included in this limit are your Memberand spouse contributions. Exemptfrom the limit are Government Cocontributions,certain compensationpayments due to injury resulting inpermanent disablement and proceedsfrom the sale of small businessassets in some circumstances upto a lifetime limit of $1.155 million(aforementioned Lifetime Super CGTCap).There will be no tax on nonconcessionalcontributions up tothe $150,000 limit. Contributionsin excess of the limit, and earnings,will incur tax at 46.5%.Contribution splittingYou are allowed to split certaincontributions with your spouse. Anannual application to split concessional(taxed) contributions made during afinancial year must be lodged in the nextfinancial year after you have claimedany tax deductions on contributionsmade, unless you roll-over, transfer orcash your entire benefit (in which casethe application can be made in the samefinancial year as the contributions).Splitting is available for same-sexpartners.Claiming a deduction oncontributionsYou may claim a tax deduction for thepersonal contributions that you make,if you satisfy the following conditionsin the relevant financial year:■■■■■■you were fully self-employed; oryou were partly self-employed andsatisfied the 10% substantiallyself-employed rule (where lessthan 10% of the total of theemployee’s assessable income,reportable fringe benefitsand reportable employersuperannuation contributions forthe year comes from employmentrelatedactivities) ; oryou were not employed.Employers and eligible personswill generally be able to claim afull deduction for all contributionsto superannuation, provided thecontributions are made within theeligible time limits.PenaltiesTrustees must ensure that thecontribution standards are compliedwith at all times. A Trustee whointentionally or recklessly fails todo so is guilty of an offence underSuperannuation Law, which mayresult in the Fund being fined and/ortreated as non-complying for taxationpurposes.super solutions.23

PART B. bell potter self managed superannuation Fundinvestment strategyInvestment requirementsA key area of responsibility forTrustees is the management of theFund’s investments. SuperannuationLaw places certain duties andresponsibilities on Trustees whenmaking investment decisions. Theyaim to protect and increase Memberbenefits over time for retirementpurposes.Why is an Investment Strategyso important?As Fund Trustees, you are required toprepare and implement an investmentstrategy which is in accordance with theMembers’ needs and SuperannuationLaw. The Investment Strategy mustreflect the purpose and circumstancesof the Fund and consider:■■■■■■investing in such a way as tomaximise Member returns, havingregard to the risk associated withholding the investment;appropriate diversification andthe benefits of investing acrossa number of asset classes (e.g.shares, property, fixed interest) in along-term investment strategy; andthe ability of the Fund to pay benefitsas Members reach retirement andother costs incurred by the Fund.An appropriate investment strategywill set out the investment objectivesof the Fund and detail the investmentmethods the Fund will adopt to achievethese objectives.Trustees must make sure all investmentdecisions are made in accordance withthe documented Investment Strategy ofthe Fund and should seek investmentadvice if in any doubt.Formulation and implementationof the Fund’s Investment Strategyis very important, as penalties canbe imposed where a Fund does nothave a proper Investment Strategy.Further, Trustees have a degree ofprotection against actions for lossor damage suffered by a person as aresult of the making of an investmentif this was done in accordance witha properly formulated InvestmentStrategy. If a Fund trades outsideits Investment Strategy for morethan 90 days, it may be considereda compliance breach, which mayrender the Fund non-complying andexpose it to fines.The Trustee may invest in anyinvestment within the bounds of theInvestment Strategy that is permittedby Superannuation Law and the TrustDeed. Obtaining suitably qualifiedinvestment advice does not absolveTrustees of their responsibilities.Investment restrictionsSuperannuation Law does not stateexactly what a Fund can and cannotinvest in. It does, however, restrict someinvestment practices of superannuationFunds. The investment restrictions aimto protect Members by ensuring Fundassets are not overly exposed to unduerisk (for example the possible risk of anassociated business failing). Secondly,they aim to ensure that the Fund makesinvestment decisions with the primarypurpose of generating retirementbenefits for Members rather thanproviding current day support.PenaltiesInvestment rules are one of themost important requirements ofSuperannuation Law and failure tocomply with the rules could result inthe Trustees being fined and/or theFund losing its complying status.Loans/financial assistance toMembers or a Member’s relativeTrustees are prohibited fromlending money or providing financialassistance from the Fund to aMember or a Member’s relative. Theuse of a Fund asset by a Member or aMember’s relative for no cost or as aguarantee to secure a personal loanfor example, would be a contraventionof this investment restriction.BorrowingsSMSFs are prohibited from borrowingmoney (or maintaining an existingborrowing) except in some limitedcircumstances as permitted underSuperannuation Law. For example,Trustees are able to borrow for amaximum of 90 days to meet benefitpayments due to Members as longas the borrowing does not exceed10% of the Fund’s total assets. Incertain circumstances, Trustees canalso borrow for a maximum of 7 daysto cover the settlement of securitytransactions if the borrowing does notexceed 10% of the Fund’s total assetsand, at the time the transaction wasentered into, it was likely that theborrowing would not be needed.Amendments to SuperannuationLaw allow SMSFs to enter into loanarrangements which meet certainspecified requirements. The newrules do not remove the prohibitionon borrowing in superannuation funds;instead they create an exemptionfrom the general rule.Acquisition of assets froma related partyTrustees of SMSFs are prohibitedfrom acquiring assets for thesuperannuation fund from a relatedparty of the Fund. Limited exceptionsto this rule exist, if:■■the asset is an in-house asset (seebelow) and would not result inthe level of in-house assets of theFund exceeding 5% of the Fund’sassets, or is an asset specificallyexcluded from being an in-houseasset;24

■■■■■■the asset is a listed security (e.g.shares, units or bonds listed on anapproved stock exchange);the asset is an investment in a‘widely held’ unit trust,the asset is business real property.Business real property of anentity generally relates to landand buildings used wholly andexclusively in a business.Note: while it is possible to invest upto 100% of a Fund’s cash holdings,from a practical perspective the Fundshould hold sufficient cash to coverexpenses and taxes that are payablethroughout the year; and wherebenefits are being paid, additionalcash should be held to meet theserequirements.In-house assetsAn in-house asset is a loan to, or aninvestment in, a related party of theFund or an investment in a relatedtrust of the Fund, or a Fund assetwhich is subject to a lease with arelated party. In general, the Fundis restricted from lending, investingor leasing more than 5% of theFund’s total assets in related parties(members, relatives, partners, orcontrolled companies and trusts andall standard employer sponsors ofthe Fund). Some exceptions do exist,including allowing an exemptionfor business real property, whichis subject to a lease between theFund and a related party of the Fundand a limited exemption for certaininvestments in related non-gearedtrusts or companies.Related party of a FundA related party of a Fund coversall Members of the Fund and theirassociates and all employer sponsorsof the Fund and their associates.Associates of Members would includetheir relatives, business partnersand any companies or trusts thatthey control (either alone or withtheir other associates). Associatesof employers would include businesspartners and any companies or truststhat the employer controls (eitheralone or with their other associates)or companies and trusts whichcontrol the employer.Investments to be made andmaintained on an arm’s length basisInvestments by the Fund must bemade and maintained on a strictcommercial basis. The purchaseand sale price of Fund assets shouldalways reflect a true market value forthe asset. Income from assets held bythe Fund should always reflect a truemarket rate of return.You can obtain more informationregarding the obligations of FundTrustees from the following AustralianTaxation Office publications:■■■■“DIY Super – It’s your money…butnot yet!”“Roles and responsibilities oftrustees”The publications are available on theAustralian Taxation Office website atwww.ato.gov.au.THE INVESTMENT STRATEGYSELECTION FORMThe purpose of the InvestmentStrategy Selection Form, which isincluded in the application forms thatfollow, is to confirm the Fund’s:■■■■Investment Strategy assetallocation; andInvestment objectives and methodsthat the Trustees will adopt toachieve these objectives.The enclosed Investment StrategySelection Form must be completedand forwarded to us. If you have,or intend to, make investmentswhich do not fit into any of the listedcategories, you may have to completea more detailed Investment Strategydocument, depending on the natureof these investments.The Trustees are responsible for theimplementation of the InvestmentStrategy at all times. We will reportto the Trustees any deviation fromthe chosen Investment Strategy assetallocation at the end of each quarterto enable the Fund Trustees to eitheradjust the investment mix to thestated strategy or review the strategyand adopt an alternative one.super solutions.25

PART B. bell potter self managed superannuation Fundyour benefitsBenefits accrue to the Fund Memberover time. Benefit entitlement is thebalance of the Member’s account atthe date of payment and is the sumof:■■■■■■■■■■Contributions;rollovers and transfers into theFund;investment returns (if positive);proceeds of insurance payments (ifapplicable); andany other amounts determined bythe Trustees in accordance withthe Trust Deed.Less■■ taxes, fees, costs and expenses;■■■■■■■■investment returns (if negative);Member withdrawals;amounts paid to the Commissionerof Taxation in accordance with arelease authority; andany other amounts determined bythe Trustees in accordance withthe Trust Deed.A Member’s benefits in a Fund mayonly be paid by being cashed inaccordance with the requirements ofSuperannuation Law. The paymentstandards of SuperannuationLaw work with the sole purposetest and the preservation rules toensure monies in the Fund are onlypaid to Members in appropriatecircumstances.WHEN CAN/MUST BENEFITS BECASHED?There are two forms of cashing -compulsory and voluntary.Compulsory cashing of benefitsMember Benefits are not ordinarilyrequired to be paid out of the Fund.Generally, in the event of your death,your accumulated benefits may bepaid either directly to the Dependantsnominated by you, provided they areDependants at the time of your death,or to the Dependants or other personsor to your estate, as determinedby the Trustees in accordance withSuperannuation Law.Depending on the type of pensionchosen, and the requirements ofSuperannuation Law, a reversionarypension may be payable upon thedeath of the Member (refer to pages29 to 32 which explain the differentpension options available).See page 36 for the payments ofbenefits on death in relation topensions.Voluntary cashing of benefitsA Member’s benefits in the Fundare classified as one or more of thefollowing:■■■■■■preserved benefits;restricted non-preserved benefits;and/orunrestricted non-preservedbenefits.From 1 July 1999, all contributions,irrespective of their source, madeby or on behalf of a Member and allearnings in respect of the period after30 June 1999 are preserved.Unrestricted non-preserved benefitsmay be withdrawn at any timePreserved benefits and restrictednon-preserved benefits may only becashed voluntarily if a condition ofrelease (rules regarding access tosuperannuation benefits) is satisfied,subject to any cashing restrictionsimposed by Superannuation Law.These restrictions specify the formthe benefits must be taken in.WHAT ARE THE CONDITIONS OFRELEASE?Conditions of release are the nominatedevents under Superannuation Law,which a person must satisfy to enablethem to withdraw their preservedbenefits and restricted non-preservedbenefits from the Fund.According to Superannuation Law,a Member’s preserved benefits andrestricted non-preserved benefitsmay be paid out at:RetirementActual retirement under SuperannuationLaw depends on the person’s ageand for those under 60 years of age,their future employment intentions.A retired Member cannot access theirpreserved benefits before they reachtheir preservation age. From 1 July1999, depending on the Member’s dateof birth, preservation age increasesfrom age 55 to age 60 (see below).DATE OF BIRTH1st July 1960 –30 June 19611st July 1961 –30 June 19621st July 1962 –30 June 19631st July 1963 –30 June 1964After 30th June1964PRESERVATIONAGE5657585960A Member who has reached theirpreservation age and is less than age60, retires when the arrangement26

under which they were gainfullyemployed ceases and the Trusteesare reasonably satisfied the Memberdoes not intend to be gainfullyemployed (for at least 10 hours perweek) in the future.When the Member has reached age60, their retirement occurs when anarrangement under which they weregainfully employed ceases.Attaining age 65 or moreIf a Member of an SMSF has reachedage 65 they may cash their benefitsat any time even if they are stillgainfully employed i.e. there are nocashing restrictions. Trustees shouldremember that the Member is underno legislative requirement to cashtheir benefits.Terminating gainful employmentWhere the Fund Member hasterminated gainful employment withan employer who had contributed tothe Fund on behalf of the Member(and the Member would not otherwisesatisfy a condition of release),preserved benefits may be paid asa non-commutable account-basedpension or annuity. On termination,restricted non-preserved benefits(if any) become unrestricted nonpreservedbenefits and thereforecan be cashed on request from theMember.Where a Member of an SMSF hasceased gainful employment with anemployer who had contributed tothe Member’s Fund and where theMember’s preserved benefits are lessthan $200, the Member’s benefits canbe cashed in full.Reaching your Preservation Age(whether still working or not)Once the Member reachespreservation age (see above), theycan now choose to commence certainpensions, including a Transition toRetirement Pension. For informationregarding pensions, please refer tothe following sections – ‘Working toyour Retirement – the Transition toRetirement Pension’ and ‘Living inRetirement – the Pension’.Permanent incapacityA Member’s benefits in an SMSFmay be cashed if the Member ceasesgainful employment due to ill-health(physical or mental) and the Trusteesare satisfied that the Member isunlikely, because of the incapacity,ever again to engage in gainfulemployment of the type for which theMember is reasonably qualified byeducation, training or experience.Temporary incapacityA Member’s benefits in an SMSFmay be paid where the Trusteesare satisfied that the Member hastemporarily ceased work due tophysical or mental ill health whichdoes not constitute permanentincapacity. It is not necessary forthe Member’s employment to fullycease and generally a Memberwould not be eligible for temporaryincapacity benefits if they werereceiving sick leave benefits. Thecashing restriction is that the benefitmust be paid as a Non-Account-Based pension in accordance withSuperannuation Law.Severe financial hardshipDifferent conditions for release andcashing restrictions apply dependingon the age of the Member.Where the Member is under theirpreservation age plus 39 weeks, theymust satisfy the Trustees of the Fundthat;■■■■they cannot meet reasonable andimmediate family living expenses;andthey have been receivingCommonwealth income supportpayments for a continuous periodof 26 weeks and were receivingthat support at the time of applyingto the Trustee (written evidenceof at least one CommonwealthDepartment responsible foradministering Commonwealthincome support payments isrequired) .The payment must generally be asingle gross lump sum of no morethan $10,000 and no less than $1,000(or a lesser amount if the Member’sbenefits are less than $1,000). Onlyone payment is permitted in any 12month period.Where the Member has reached theirpreservation age plus 39 weeks, theymust satisfy the Trustees of the Fundthat:■■■■they have been receivingCommonwealth income supportpayments for a cumulative periodof 39 weeks since reaching theirpreservation age (written evidenceof at least one CommonwealthDepartment responsible foradministering Commonwealthincome support payments isrequired); andthey were not gainfully employedon a full or part-time basis at thetime of applying to the Trustee.There are no cashing restrictionsif releasing benefits under thesecircumstances.super solutions.27

PART B. bell potter self managed superannuation FundNote: Reaching preservation age andretiring constitutes a full condition ofrelease.Compassionate groundsBenefits may be released subjectto Fund rules on the determinationby the ATO that certain specifiedgrounds for release have been met.A Member must lodge a writtenapplication with the ATO.Temporary residents departingAustraliaPersons who have entered Australiaon an eligible temporary resident’svisa and who subsequentlypermanently depart Australiawill be able to receive paymentof any superannuation they haveaccumulated. The payment willbe subject to special withholdingtax. The Trustees must obtain theevidence required by SuperannuationLaw before approving the application.Terminal medical conditionIf a member of an SMSF hasa terminal medical condition,they can access their lump sumsuperannuation benefits. Themember will be required to providecurrent certification from twomedical practitioners (at least onebeing a specialist in the relevantfield of medicine) that the memberis suffering from an illness or injurythat is likely to result in the deathof the member within a period of 12months.Australian Taxation Office approvedpurposesThe Australian Taxation Office (ATO)may give written approval for thecashing of benefits in restrictedcircumstances. The ATO has thepower to approve ancillary benefitsand accordingly has the power toapprove circumstances in whichthose benefits can be cashed.Release authorityA Member’s benefits may be cashedin accordance with a release authorityfrom the Commissioner of Taxation topay excess contributions tax resultingfrom non-concessional contributionsmade in excess of the relevant caps.HOW CAN BENEFITS BE TAKEN?Please note that this section providesgeneral information on benefitpayments only. The Trustees mustsatisfy themselves that any proposedbenefit is actually permitted underthe terms of the Trust Deed andSuperannuation Law.Benefits can be taken as a pension(cash payments only) or lump sumwithdrawal (cash payments or inspecieasset transfers).28

PART B. bell potter self managed superannuation FundWorking to yourretirement –the Transition to Retirement PensionA Transition to Retirement Pensionis available from the Fund which, ifyou are eligible, offers income and taxadvantages while you continue to work.From preservation age, yoursuperannuation savings can beconverted into a Transition toRetirement Pension account andmaintained within your Fund whileyou continue to work.A Transition to Retirement Pensionenables you to choose the amount ofpension you receive each year (withinminimum and maximum limits).A Transition to Retirement Pensionis one in which your capital generallycannot be accessed and convertedinto a lump sum payment (i.e.cashed in). The purpose of this typeof pension account is to provideindividuals who have reached theirpreservation age, but continueworking, with access to theirsuperannuation in the form of anincome stream. A Transition toRetirement Pension allows olderworking Australians to use part oftheir superannuation to supplementtheir income. You do not need to worka minimum number of hours in orderto start a Transition to RetirementPension, nor is there a limit on theamount of your superannuationsavings that you can access in orderto commence the pension.From commencement of thepension, and provided that statutoryrequirements are met, no tax ispayable on the income generatedby assets supporting the pensionpayments in your Fund.The capital value of the pension, andthe income from it, cannot be used assecurity for a borrowing.The Fund Trustees are required tokeep accounting records for yourpension, ensure security of theserecords and arrange the audit,actuarial certificates and lodgementof all returns.How to start a transitionto retirement pensionYou may convert your Fund’saccumulation account, or rolloverother accumulated superannuationbenefits to commence your pension.Once commenced, further contributionsand rollovers cannot be accepted intoa Transition to Retirement Pension,however you can have multipleTransition to Retirement Pensionaccounts.To establish a Transition toRetirement Pension accountyou should contact the Fundadministrator on 1300 138 348.29

PART B. bell potter self managed superannuation FundHow your transitionto retirement pensionis calculatedIn order to receive taxation benefits, theannual amount of your pension mustbe between minimum and maximumlevels prescribed by legislation.Payments from a Transition toRetirement Pension in any yearare capped at 10% of your accountbalance at the start of the financialyear (or the commencement date ifthat year is the year that the pensioncommences). That is, for this pensiontype, you cannot elect to pay yourselfany more than 10% p.a. of the value ofthe portfolio as a pension.The minimum pension income youmay elect until age 65 will be 4% p.a.Once you have retired or reach age 65,your Transition to Retirement Pensionconverts to an ordinary pension. Pleaserefer to the section ‘Living in retirement– the pension’ for more details on howthat pension type operates.Take an example of a person who hasan account balance of $400,000 on1 July and is aged 62. The minimumannual pension that can be paid outis 4% of the account balance, with themaximum being 10% of the accountbalance.The minimum and maximum pensionlevels are:■■■■Maximum pension amount:$400,000 x 10% = $40,000 p.a.Minimum pension amount:$400,000 x 4% = $16,000 p.a.This person is therefore able tochoose a pension between $16,000and $40,000 p.a. Their choice maybe influenced by matters such as theincome generated by the investmentsin their pension account, assets theyown outside the superannuationsystem and their lifestyle.Dependant upon circumstances, theminimum pension amount may bevaried by legislation.Payment of the transitionto retirement pensionYou can elect to have yourpension paid monthly, quarterly,half-yearly or annually to yournominated Australian bank or creditunion account. It is a legislativerequirement that your pensionpayments be paid at least annuallyfrom your Fund.Generally, you cannot access part orall of your capital within your pensionuntil you permanently retire from thework force or reach age 65. However,any unrestricted non-preservedamounts may generally be accessedprior to retirement. Investmentearnings on the pension capital arepreserved amounts.Failure to take your minimum pensionrequirements within the financialyear will result in the pension beingtreated as an accumulation accountfor tax purposes.Payment of benefits on deathAt the commencement of a Transitionto Retirement Pension, you maychoose whether the pension is to bepaid to you only or to continue to yourchosen reversionary beneficiary uponyour death (known as a reversionary).If your choice is for the pension to bepaid to you only, any balance in youraccount at your death will be paid outin accordance with a valid bindingdeath benefit nomination or, if thereis no such nomination, as determinedby the Trustees.For Members who die on or after 1July 2007, death benefits can be paidas reversionary pensions only to aperson who is:■■a Dependant of the Member underSuperannuation Law; and■■ in the case of a child of theMember, is:- under age 18; or- 18 or older and less than 25 yearsof age and financially dependent onthe Member; or- suffering a disability of the kinddescribed in section 8(1) of theDisability Services Act 1986.If a child that is receiving a reversionarypension attains age 25, the pensionmust be cashed and paid as a lumpsum, unless the child is suffering thedisability as prescribed on the date heor she attains age 25. This paymentwill be tax-free.On the death of a Member with areversionary pension, the pensioncontinues until the reversionarybeneficiary dies, at which time thepension must be transferred toanother nominated reversionarybeneficiary, if any.If no reversionary beneficiary isnominated, or the nominee is not aDependant able to receive a pension,then any balance in the pensionaccount will be paid out in accordancewith a valid binding death benefitnomination of the reversionary or,if there is no such nomination, asdetermined by the Trustee.The taxation treatment of deathbenefits is explained under theheading “Death Benefits” on page 36.Choosing between a reversionaryand non-reversionary pension andnominating your dependants areimportant decisions, which may havesignificant financial and taxationconsequences. You should seekprofessional advice before makinga decision.30

Living in retirement– An Account-Based PensionYour superannuation savings canbe converted into a pension accountmaintained within your Fund to provideyou with a flexible and tailored incomestream each year, subject to a statutoryminimum.Subject to the Trustee’s approval, yourFund can acquire specific investments toassist in generating pension paymentsincluding shares, fixed interestsecurities, units in trusts and propertysecurities. From commencement ofthe pension, and provided that statutoryrequirements are met, no tax is payableon the income generated by assetssupporting the pension payments inyour Fund.The capital value of the pension, andthe income from it, cannot be used assecurity for a borrowing.The Fund administrator keepsaccounting records relating to thepension account on behalf of theTrustees, ensures the security ofthese records and arranges the audit,actuarial certificates and lodgement ofall returns.HOW TO START A PENSIONYou can receive a pension if:■■■■■■you retire after attainingpreservation age or reach age 65and convert your accumulationaccount to a pension account;you convert the unrestrictednon-preserved benefit in youraccumulation account to a pensionaccount;you rollover an unrestrictednon-preserved benefit from anysuperannuation fund beforeretirement into a pension accountwithin your Fund. If you are retiredand have attained the preservation■■■■age you can rollover your entiresuperannuation benefits;you have reached age 65; oryou are permanently incapacitated.For further information aboutpreservation, please refer to the section‘What are the conditions of release?’ onpage 26.You may convert your Fund’saccumulation account or rollover otheraccumulated superannuation benefitsto commence your pension. Oncecommenced, further contributions androllovers cannot be accepted into apension; however you can have multiplepension accounts.To establish a pension you shouldcontact the Fund administrator on 1300138 348.PAYMENT OF PENSIONSubject to an annual minimum pensionpayment, you may access part or allof your pension account balance. Thepension payments may be subject totax if you are under 60 years of age. Ifyou are aged 60 and over any lump sumor pension income will be paid to youtax-free.You can elect to have your pensionpaid monthly, quarterly, half-yearly orannually to your nominated Australianbank or credit union account. It is alegal requirement that your pensionpayments be paid at least annually fromyour Fund.HOW YOUR PENSION ISCALCULATEDPlease note that you should consult alicensed financial adviser before makingany decision as to the most appropriateway to pay any benefits.In order to receive taxation benefits, theannual amount of your pension mustmeet a minimum level prescribed bylegislation.Percentage factors are defined in tablesprescribed by legislation and are subjectto change. Payments from a pensionare subject to a minimum percentagefactor only, which is based on your ageon 1 July in the financial year in whichthe payment is made or, if that is theyear in which the pension commences,the commencement day. There is nomaximum pension that can be taken,i.e. you can take your whole accountbalance out as a pension in a year.AGEMinimum annualpercentagefactorUnder 65 4%65 – 74 5%75 – 79 6%80 – 84 7%85 – 89 9%90 – 94 11%95 or more 14%Dependant upon circumstances, theminimum pension amount may bevaried by legislation.Take an example of a person who hasan account balance of $250,000 on 1July, and is aged 62. The current tablespecifies that the minimum annualpercentage factor is 4%, there is nosuper solutions.31

PART B. bell potter self managed superannuation Fundmaximum percentage factor. Theminimum pension level is:■■Minimum pension amount:$250,000 x 4% = $10,000 p.a.This person is able to choose a pensionof between $10,000 and their entirepension balance. Their choice will beinfluenced by matters such as theincome generated by the investmentsin their pension account, assets ownedoutside the superannuation system andtheir lifestyle.Payment of benefits on deathThe rules regarding payment of deathbenefits upon the death of a pensioner,are the same as for a Transition toRetirement Pension – refer to page 36.The taxation treatment of death benefitsis explained on page 36.Dependant upon circumstances, theminimum pension amount may bevaried by legislation.Take an example of a person who hasan account balance of $250,000 on 1July, and is aged 62. The current tablespecifies that the minimum annualpercentage factor is 4%, there is nomaximum percentage factor. Theminimum pension level is:■■Minimum pension amount:$250,000 x 4% = $10,000 p.a.This person is able to choose a pensionof between $10,000 and their entirepension balance. Their choice will beinfluenced by matters such as theincome generated by the investmentsin their pension account, assets ownedoutside the superannuation system andtheir lifestyle.32

TaxationThis tax information is of a generalnature only and is based on theinterpretation of the tax laws currentas at the issue date of this disclosuredocument. The application of taxlaws depends upon the complyingstatus of the Fund and your individualcircumstances. Please note that thequoted tax rates are exclusive of theMedicare levy. You should contact yourTaxation Adviser for further information.Residency requirementsYou will need to make sure that yourFund, when established, is an Australiansuperannuation Fund for taxationpurposes. Only these superannuationfunds are entitled to concessional taxtreatment.Additionally, if the majority of activemember’s accumulated entitlements ina Fund are held by active non-residentmembers (i.e. members still makingor receiving contributions, unless suchcontributions relate to periods whenthey were a resident), then the Fundmay no longer retain its complyingstatus.If any Fund member is, or becomes, anon-resident for taxation purposes, youshould seek advice regarding the impacton your Fund.Taxation of contributionsTax deductions for contributionsConcessional contributions madeto a complying superannuation fundby an employer for an employee orby a self-employed person or anunsupported person, are generally fullytax-deductible.Generally, employed persons are notentitled to a tax deduction for their owncontributions, but may be eligible for theGovernment Co-contribution for lowincomeearners.Tax rate applying to contributionsAny superannuation contributions forwhich you or your employer claims atax deduction, less the cost of insuranceand charges, are taxed at a maximumof 15% if within the concessionalcontributions cap.Tax rate applying to excessiveconcessional contributionsExcessive concessional contributions(i.e. contributions in excess of theconcessional contributions cap) will betaxed at 45% and the excess amountwill be counted toward your nonconcessionalcontribution cap.Taxation of fund earningsTaxation payable by your Fund –accumulation accountsIf your Fund remains a complyingsuperannuation Fund, youraccumulation account’s earnings,including realised capital gains,are generally taxed at a maximumof 15%.However, the effective tax rate maybe less than this, such as wherethe investments of the Fund includelisted Australian equities, and theFund can utilise imputation creditsattached to dividends to reduce taxpayable.If the Fund realises a capital gainon an asset that has been held forat least 12 months, a one-thirdCapital Gains Tax discount will apply,resulting in an effective rate of 10%.Taxation payable by your Fund –pension accountsOnce your pension payments begin,the earnings and realised capitalgains generated from your pensionaccount will not attract tax, providedyour Fund continues to comply withthe requirements of SuperannuationLaw.An SMSF may also receive a cashrefund of surplus imputation creditsif it owns listed Australian shareswhich pay franked dividends.Deductions for death or disabilityinsuranceThe cost of providing certain types ofdeath or disability insurance can beclaimed as a tax deduction by the Fund.super solutions.33

PART B. bell potter self managed superannuation FundTaxation of benefitsLump sumsSuperannuation benefits comprise two components, ‘taxable’ and ‘tax-exempt’ i.e.’ tax-free’. When superannuantselect to receive their superannuation benefits they are no longer able to specify which component the benefit will bedrawn from. The benefit will be paid proportionately from the taxable and tax-exempt components.Lump sum withdrawals from the tax-exempt component will be paid tax-free, however preservation rules apply. Thetaxed component is subject to taxation. For members aged 60 and over the taxable component will be paid tax-fee,however preservation rules apply. For members under age 60, the taxable component of a lump sum payments will bepaid tax-free up to a low rate cap amount of $160,000*. Amounts in excess of this cap will be taxed at 15%.COMPONENTS PRIOR TO 1 JULY 2007Current ComponentsPre-July 1983ConcessionalUndeducted contributionsTax-exempt componentPost-June 1994 invalidityCapital gains tax exemptNon-qualifyingPost-June 1983ExcessiveTAXABLE COMPONENTTaxable component(see below)AbolishedCurrent ComponentsUnder 55 20%Age 55-59 Up to cap amount ($160,000*) – 0%Over cap amount – 15%Age 60 and overExempt*The ‘Low Rate Cap Amount’ is indexed to AWOTE and should increase in $5,000 multiples.Where a Tax File Number is not quoted the lump sum payment may be subject to withholding tax at the top marginal tax rate.Note 1: Medicare levy is applicable to the rates above, except where the rate is nil.Note 2: Members who were receiving a pension prior to 1 July 2007 will continue to be taxed on a similar basis to that which applied before 1 July 2007 until a “trigger event” occurs.“Trigger events” include commutations, payment of death benefits to non-dependants and attainment of age 60 (provided none of the pension consists of an elementuntaxed in the Fund). Once a “trigger event” occurs, the pension will be taxed under the current tax rules.Note 3: The table is prepared on the basis that the Taxable Component contains no untaxed elements. Higher rates of tax apply to untaxed elements of the Taxable Component.Note 4: Where a tax file number is not quoted, the lump sum payment may be subject to withholding tax at the highest marginal tax rate.Note 5: The table is prepared on the assumption that the member is not suffering from a terminal medical condition. For more information regarding the tax treatment of benefitspaid to a member suffering a terminal medical condition, please refer to page 36.34

The Tax-Free Component consists of:The Contributions Segment; andThe Crystallised Segment.The Contributions Segmentrepresents the contributions madeafter 30 June 2007 to the extentthey have not been included in theassessable income of the Fund – theMember’s personal contributionsComponents of Crystallised SegmentCOMPONENT TYPEfor which they have not claimed adeduction.Superannuation Funds were requiredto calculate the Crystallised Segmentby 30 June 2008 as if an employmenttermination payment was paid justbefore 1 July 2007. Once calculated,this amount becomes a fixedcomponent which will not change inthe future.DESCRIPTION OF COMPONENTThe Crystallised Segment iscalculated by assuming that a lumpsum payment had been paid justbefore 1 July 2007 and that that lumpsum was equal to the full value of thesuperannuation interest at that time.The Crystallised Segment is that partof the value of the superannuationinterest as consists of the elementsin the following table.Undeducted contributionsContributions paid to a super Fund after 30 June 1983 and before 1 July 2007 for whicha tax deduction has not been claimed.Pre July 83 Relates to the component of the eligible service period before 1 July 1983.Post June 94 Invalidity component This represents invalidity payments made on or after 1 July 1994.CGT ExemptConcessionalThese arise from the sale of certain small business assets where the relevantcontroller of the business elects to rollover the Capital Gain on the sale proceeds.Genuine redundancy payments, approved early retirement payments and/or invaliditypayments made before 1 July 1994.Pension accountsUpon the establishment of a pension, the pensionpayments will be paid proportionately from the taxableand tax-free components.The tax-free component of a pension will be tax-freeirrespective of the age at which it is received. The fullsuperannuation pension rebate of 15% will apply to thetaxable component of a pension if the recipient is aged55 to 59 years. Once the recipient turns 60, the pensionwill be tax-free (provided the benefit is paid from a taxedelement in the fund). For those under preservation age,the taxable component is assessable income and it istaxed at marginal rates. There is no superannuationrebate for those under preservation age unless thepension is a disability pension.ExampleA 58 year old Fund Member has an account-basedpension with a yearly pension payment of $35,000 andpurchase price of $875,000.If the ‘tax-free’ component of the pension is $150,000 atpension commencement, the tax-free component of theannual pension amount is:If the $35,000 pension is the fund member’s only income,the tax payable is calculated as follows:GROSS PENSION $35,000LESS TAX-FREE DEDUCTIBLEAMOUNT($6,000)ASSESSABLE TAXABLE INCOME $29,000LESS TAX PAYABLE ON $29,000 * ( $3,450)TAX OFFSET (15% OF $35,000-$6,000)NET TAX PAYABLE ON PENSION$4,350NilNET PENSION $35,000*Based on 2010/2011 tax scale and includes the Medicarelevy and low income tax offset. The unused portion of thepension offset can be carried forward to future years tooffset tax otherwise payable on pension income at a laterdate.$150,000/$875,000 x $35,000 = $6,000.super solutions.35

PART B. bell potter self managed superannuation FundTerminal medical conditionIf a member:■■■■is suffering from a terminalmedical condition when a lumpsum superannuation benefit ispaid to the member; orsuffers from a terminalmedical condition within 90days of payment of a lump sumsuperannuation benefit;then the benefit is tax-free.The member will be required toprovide current certification fromtwo medical practitioners (at leastone being a specialist in the relevantfield of medicine) that the memberis suffering from an illness or injurythat is likely to result in the deathof the member within a period of 12months.Death BenefitsThe actual tax payable as a result of apensioner’s death will depend on whoultimately receives the benefit. DeathBenefits Dependants are a sub-setof the class of Dependants, and arethe only persons who receive specialtax treatment on the receipt of asuperannuation death benefit.Adult children who were not in anInterdependency Relationship withthe Fund Member, or financiallydependent on the Member, arewithin the class of Dependants, butoutside the class of Death BenefitsDependants. This means that,while they are eligible to receivesuperannuation death benefits underSuperannuation Law, they are notentitled to the concessional rates oftax on payments received that areavailable to other Dependants (e.g.spouse).Taxation treatment of death benefitspaid to a Death Benefits DependantIf death benefits are paid as a lumpsum to a Death Benefits Dependant,they will be tax-free.If a Death Benefits Dependantreceives a death benefit as an incomestream, the taxation treatment willdepend on the age of the deceasedperson and of the Death BenefitsDependant:■■If the deceased person was age 60or over at the time of death, thepension payments to the DeathBenefits Dependant will be taxfree.■■If the deceased pensioner wasunder age 60 at the time of death,and the Death Benefits Dependantis under age 60 at the time ofreceipt, the pension will continueto be taxed at the Death BenefitsDependant’s marginal tax rate(less any deductible amount forthe tax-free component and witha 15% tax offset). If (or when) theDeath Benefits Dependant is aged60 and over, the pension paymentwill be tax-free.Taxation treatment of death benefitspaid to a non Death BenefitsDependantThe tax-free component of a deathbenefit paid as a lump sum to a non-Death Benefits Dependant is tax-free.The taxed element of the taxablecomponent of a lump sum paid toa non-Death Benefits Dependant willbe taxed concessionally at 15%. Anyuntaxed element will be taxed at 30%.If a person is not eligible to receive adeath benefit asa pension, it must be paid as a lumpsum.This tax information is based on TaxLaw current on1 July 2010.36

Information aboutsupplying yourtax file numberReasons for supplying your Tax Filenumber to the TrusteesGenerally, under superannuationlegislation, the Trustees of the Fundmust request that Members supplytheir Tax File Number (TFN) forsuperannuation purposes.Collection of TFNs by Trustees ofthe Fund for lawful purposes isauthorised by Superannuation Law.Completing the TFN section of theapplication form and providing it tothe Trustees will allow your TFN to beused only for lawful purposes.The purposes currently authorisedinclude:■■■■■■■■■■■■allowing the Trustees to quote yourTFN to the Australian TaxationOffice when applying for the Fund’sABN and TFN;allowing the Trustees to quote yourTFN to the Australian TaxationOffice when reporting details ofcontributions;having benefits which arepaid from the Fund taxed atconcessional rates;finding and amalgamating in theFund your superannuation benefitsfrom other Funds (at your request),where insufficient information isavailable to otherwise match yourrecords;passing your TFN to theappropriate regulator where youreceive a benefit or have unclaimedsuperannuation money afterreaching the Age Pension age; andallowing the Trustees toprovide your TFN to anothersuperannuation fund or retirementsavings account receiving anybenefits that you may transferfrom the Fund.Neither the Trustees, Bell Potter norsmartsuper will forward your TFN toany other body without your writtenconsent, unless required to do so bylaw. Your TFN will not be passed onat all to any other fund or retirementsavings account if you tell the Trusteesin writing that you do not want it to bepassed on.Consequences of not supplying yourTFN to the TrusteesYou are not compelled to provide yourTFN. Deciding not to quote your TFNis not an offence. If you do not provideyour TFN to the Trustees, either nowor later:■■■■■■■■■■the Fund’s applications for a TFNand ABN may be delayed.the Fund cannot accept Member(i.e. non-employer) contributions.employer contributions may betaxed at an additional 30%.you may pay more tax on yoursuperannuation benefits thanyou need to (you may be able toreclaim this through the incometax assessment process); andyour entitlement to theGovernment’s Co-contribution maybe delayed or lost.The lawful purposes for whichyour TFN can be used and theconsequences of not quoting your TFNmay change in the future as a result oflegislative change.super solutions.37

PART B. bell potter self managed superannuation FundSocial Security aspectsSocial security issues areimportant for many retirees andthe implications of investmentsheld or payments made from yoursuperannuation Fund may impact onyour eligibility to receive a Centrelinkbenefit. Advice in this regard shouldbe obtained from a qualified SocialSecurity adviser.38

Risks associated with the fundand superannuationTaxationThe rate of income, capital gains or contributions tax payable may change due to changes in legislation orgovernment policy.Additional taxes may be applied to areas of the Fund; e.g. breaching the allowable annual contribution cap canresult in tax penalties.AccessAccess to your superannuation may be restricted further by changes in legislation.Investment returnThe ultimate benefit from your Fund will depend on the rate of return of the investments the Trustees chooseand the application of taxes and other charges. No guarantee of return is expressed or implied. It is possiblethat the Fund may experience negative returns.Lack of understandingTrustees and/or Members may not understand their obligations which may result in unintended costs or finesand, potentially, the loss of the Fund’s complying status.FraudA Trustee or another party may defraud the Fund and/or the Members.Death of individual TrusteeIn the event an individual Trustee dies, investments will need to transferred into the names of the remaining Trustees.This may give rise to taxation or stamp duty being imposed, depending on the investment being transferred.Inappropriate investment strategyThe Trustees may implement a poor or inappropriate investment strategy, which may result in the investmentsnot meeting Members’ needs or a loss of investments.Loss of complying statusIt is mandatory for any regulated superannuation fund to comply with Superannuation Law at all times toensure it retains its tax-advantaged status. If a Fund loses its complying status, deductions for contributionsmade to the Fund may be disallowed. In addition, the Fund’s income, capital gains and assets may be taxed atthe maximum personal tax rate.Bell Potter and smartsuper do not assume any responsibility for any of the risks associated with your SMSF.super solutions.39

THE APPLICATION PROCESSGeneral instructions■■■■■■■■■■Please ensure you provide theadditional information requestedif you have an existing Fund.Please complete the forms byprinting clearly. Use BLOCKLETTERS and a black pen wherepossible.Place a ‘ x’ in all relevant boxes.Do not use pins or staples to attachany extra details you may need toprovide. Please use paper clips.For an e-mail address, print itexactly as it appears using UPPERand lower case as necessary.Most common reasons for delaysin establishing your Fund■■ Delays caused by the formerSuperannuation or RolloverInstitution – these are outsideour control.■■■■Receiving a Tax File Number andABN for your Fund –. RolloverInstitutions will not release Fundswithout an ABN.Incomplete Application or RolloverRequest Forms.If you make a mistake, draw a linethrough it and initial next to thecorrect information. Do not usecorrection fluid.40

APPLICATION FORMSbell potterpersonalsuperannuationsolutions.41

personal superannuation solutionsApplication Form cover pagePlease Note: If any of the Application Forms are incomplete or contain errors, or any requested additional information is not provided, it maycause delay in the establishment, administration and reporting of your Fund.checklist for all funds (existing or new)I have completed:A Fund Application Form (to be signed by the nominated representative)A Member Application Form for each member (each member to sign their own form)An Authority Form to enable us to contact institutions on your behalfAn Investment Strategy Selection Form (to be signed by the nominated representative)A Limited Power of Attorney FormA Bell Potter Account Opening FormBell Potter Cash Management Service ApplicationExtra documentation for an existing fundContact PersonTitleGiven Name(s)SurnameAddressPostal Address (if different from above)Business Phone( )Home Phone( )Mobile Phone( )Email AddressChecklist for transferring monies from another fund into this fund Completed a separate ‘Rollover Request Form – cash in and rollover’ for each investment to be cashed in and transferred (to be signedby the member who owns the asset). Completed a separate ‘Rollover Request Form – transfer in specie’ for each investment to be transferred directly into this Fund (to besigned by the member who owns the asset).auditor nominationI wish to appoint Ure Lynam as the Fund’s auditor; orI wish to appoint a different auditor for my Fund and will provide you with detailsI acknowledge that, if I/we choose to appoint an auditor other than Ure Lynam, the Fund must negotiate its own fees with this auditor and mayincur higher fees than those stated in the Disclosure Document to which this is attached. by the member who owns the asset)other instructionsSigned on behalf of the members/Prospective members by their nominated representative of the FundDate (dd/mm/yyyy)/ /Please return this sheet, all completed forms and attachments to:Bell Potter Securities Limited AFSL No. 243480, C/- Portfolio Administration Service, GPO Box 4718, Melbourne, VIC, 3001Please contact Bell Potter if you require further information:Phone 1800 804 816 visit www.bellpotter.com.au e-mail to bppsfadmin@bellpotter.com.au facsimile 03 9235 188042

personal superannuation solutionsfund application FormThis Application Form is based on the Disclosure Document issued by Bell Potter Securities Limited on 14 April 2011. Before you sign thisApplication Form, the Trustee or your adviser is obliged to give you a Disclosure Document (which is a summary of important informationrelating to the Fund). The Disclosure Document will help you to understand the product and decide if it is appropriate to your needs andcontains important information about standard fees and other terms regarding services offered by Bell Potter Securities Limited.Fund StatusNew FundExisting FundFund NAMEExisting Name of Fund or Preferred Fund Name Account Number CMS Numbercontact detailsPreferred Contact Person : Member 1 Member 2 Member 3 Member 4 AdviserOther (please complete following details if other)TitleGiven Name(s)SurnameAddressPhone( )Email AddressFax( )Preferred contact method E-Mail Fax Posttrustee detailsPlease Note – trustee(s) must be either:✓ A company with all members as Directors; or, (If you do not want a corporate trustee)✓ All members of the Fund, except in the case of a single member fund where a second individual must be appointed.Selected Trustees Corporate Trustee All Members as Trustees Single Member FundI/We would like you to establishNEW corporate trustee company – please send me the appropriate forms (separate fees apply)I/We have an existing company which I would like to use (details are as below)The details of the existing trustee company are as followsCorporate Trustee NameABN/ACNTFNRegistered Office AddressOther Trustee Name (for sole Member Funds only)Full NameDate of Birth (dd/mm/yyyy)/ /AddressTFNRelationship to Membersuper solutions.43

Adviser Details (adviser use only)Adviser NameAdviser’s StampOfficePhone No.ONGOING Annual aDMINISTRATION FEE (adviser use only) Only complete if non-standard fees are to apply.On the 1st $500,000 of Fund assets %% Transaction fees such asPLUSbrokerage may be included inOn the next $500,000 of Fund assets % %these fees. The rates of feesstated here will be deductedPLUSOn the next $1.5 million of Fund assets % %on a monthly basis fromthe Fund by Bell Potter, andreplace the fees outlined onPLUSOn balance of Fund assets over $2.5 million % %page 12 of the DisclosureDocument.ongoing adviser service fee (adviser use only) Only complete if adviser service fees are to apply.Annual Fee %%paConfirmations1.2.3.4.I/We hereby appoint Bell Potter Securities Limited to assist with administering the Fund’s investments and smartsuper withadministration of the Fund’s superannuation and accounting related matters on the terms detailed in the Disclosure Document and I/weagree to be bound by those terms.I/We hereby appoint the nominated Bell Potter Securities Limited Adviser on the terms detailed in the Disclosure Document and I/weagree to be bound by those terms.I/We hereby confirm that I/we have read and understood the Disclosure Document, including the fee structure outlined therein andhereby request that you establish/takeover and administer a superannuation fund on my/our behalf.I/We hereby authorise you to provide any information requested in relation to my/our superannuation fund to the adviser noted on thisFund Application Form.Signed on behalf of the members/Prospective members by their nominated representative of the FundDate (dd/mm/yyyy)/ /44

personal superannuation solutionsfund application Form additional information for existing fundsPLEASE NOTE: It is important to provide the following information as soon as possible. If any of this requested information is not provided, itmay cause delays in the establishment, administration and reporting of your Fund.fund registration informationIncome Tax File Number (TFN) of the Fund(please make sure that this TFN is for the Fund itself and not the trustee)Australian Business Number (ABN) of the Fund(please make sure that this ABN is for the Fund itself and not the trustee)Original fund establishmentTFNABNDate/ /Information to set up your fund so we can administer itI have forwarded (or organised for the previous administrator to forward)A copy of the most recent Audited Accounts for the Fund (including a signed audit certificate)A copy of the most recent Income Tax Return for the FundThe Asset Register of the Fund as at the date of the last accounts (list of all assets with their purchase date and cost value togetherwith market value at date of latest financial accounts plus holder statements for all listed investments held as at date of latestfinancial accounts)Details of the composition of each Member’s account (ie. breakdown of the member’s balance into each category of contributionreceived eg. undeducted, employer, CGT exempt)Copies of workpapers to detail amounts shown in debtors and creditors (if any)Information so we can review the fund for complianceI have forwarded (or organised for the previous administrator to forward)A copy of the Fund’s initial trust deed plus any amending deeds since the initial trust deed was set upCopies of all minutes for the Fund since it was establishedA copy of the current investment strategy and related documentsCopies of all documents relating to Superannuation Loan ArrangementsA copy of the last annual review (or annual return) for the trustee company (if there is a corporate trustee)Information to process yoru fund’s transactions for the current yearI have forwarded (or organised for the previous administrator to forward)Bank Statements, rental property statements and broker statements from the date of the last Annual Accounts to todayPurchase and sale documentation for investments bought or sold from the date of the last Annual Accounts to todayIncome statements (interest, dividends, rent, trust distributions etc) from the date of the last Annual Accounts to todayStatements relating to Superannuation Loan Arrangements for the current year.Copies of any BAS and/or IAS statements lodged for the current yearWhere the fund has invested in non-standard assetsI have forwarded (or organised for the previous administrator or the relevant accountant to forward)Copies of latest financial accounts and tax return for any private companies or unit trusts the Fund has invested inCopies of latest valuations for any private companies or unit trusts, art works, collectibles or direct real estate the Fund has invested insuper solutions.45

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personal superannuation solutionsmember application FormThis Application Form is based on the Disclosure Document issued by Bell Potter Securities Limited on 14 April 2011. Before you sign thisApplication Form, the Trustee or your adviser is obliged to give you a Disclosure Document (which is a summary of important informationrelating to the Fund). The Disclosure Document will help you to understand the product and decide if it is appropriate to your needs andcontains important information about standard fees and other terms regarding services offered by Bell Potter Securities Limited.Member Reference Number Member 1 Member 2 Member 3 Member 4Fund detailsExisting Name of Fund or Preferred Fund NameAccount Numberpersonal detailsTitleGiven Name(s)SurnameResidential AddressPostal Address (if different from above)Business Phone( )Home Phone( )Email AddressMobile Phone( )Faxpreferred contact methodsPreferred voice contact Home Phone Work Phone MobilePreferred written contact Postal Address E-Mail Faximportant taxation informationEligible Service Date/ /Personal Tax File NumberDate of Birth (dd/mm/yyyy)/ /I am a resident of Australia for Taxation Purposes Yes NoBENEFICIARIES (please refer to the disclosure document or your adviser for details of who can be a beneficiary)It is recommended that you talk to your legal or financial adviser(s) prior to completion of this section.Please note: It is not necessary to complete this section at application time as beneficiary nominations can be made or changed atany time. If you wish to nominate beneficiaries at this stage, please tick the appropriate box and we will forward you the relevantforms for completion.I would like to make a Non-binding general statement of wishes concerning the disposition of my assets in the event of my deathI wish to make a Binding Death Benefit Nomination concerning the disposition of my assets in the event of my deathsuper solutions.47

Delaration, Acknowledgements and Undertakings1.2.3.4.5.I apply to become a Member of the Fund.I declare that all information on this Application Form is true and correct.I agree to be bound by the trust deed governing the Fund as amended from time to time.I acknowledge that I have received and read a current copy of the Disclosure Document. If I have received this Disclosure Document fromthe internet or other electronic means, I declare that I have received it personally, or a printout of it, accompanied by or attached to thisApplication Form before making an application.I understand that contributions can generally only be made for or on my behalf to the Fund if I am an Australian resident for taxationpurposes and:a.b.c.I am under 75 and have worked at least 40 hours in a period of 30 consecutive days during the financial year;I am under 65; orI am rolling over a superannuation benefit.6.I undertake to provide the Trustee and the Administrator:a.b.with any information requested which relates to this Fund; andany change to the information I have given in this Application Form.7.8.9.10.11.I authorise the provision of financial data with respect to the Fund to my adviser, appoint him/her to act on my behalf with respect tothe operations of the Fund and agree to the payment of fees as instructed on the Fund Application Form and as otherwise set out in theDisclosure Document and authorised by the nominated representative of the Fund.I request that Bell Potter change the address of my HIN and unlisted assets to Care of Bell Potter. Upon termination of this agreement, Irequest Bell Potter change the address of my assets (including my HIN) to my nominated address.I understand that if I do not make a binding death benefit nomination, the Trustee, in its absolute discretion, will on my death, determineto which of my dependants and/or legal personal representative(s) any benefits are to be paid and may take into account my nomination ofpreferred beneficiaries as advised to the Trustee from time to time.I acknowledge that neither Bell Potter AFSL No. 243480 nor smartsuper AFSL No. 247120 nor any of their associates or officersguarantee any particular rate of return, the capital invested nor the repayment of capital.I acknowledge I have read and understood the Privacy Policy and agree by completing and returning the relevant forms, to Bell Potter andsmartsuper using and disclosing my personal information as set out in the Privacy Policy.SignatureDate (dd/mm/yyyy)/ /48

personal superannuation solutionsmember application FormThis Application Form is based on the Disclosure Document issued by Bell Potter Securities Limited on 14 April 2011. Before you sign thisApplication Form, the Trustee or your adviser is obliged to give you a Disclosure Document (which is a summary of important informationrelating to the Fund). The Disclosure Document will help you to understand the product and decide if it is appropriate to your needs andcontains important information about standard fees and other terms regarding services offered by Bell Potter Securities Limited.Member Reference Number Member 1 Member 2 Member 3 Member 4Fund detailsExisting Name of Fund or Preferred Fund NameAccount Numberpersonal detailsTitleGiven Name(s)SurnameResidential AddressPostal Address (if different from above)Business Phone( )Home Phone( )Email AddressMobile Phone( )Faxpreferred contact methodsPreferred voice contact Home Phone Work Phone MobilePreferred written contact Postal Address E-Mail Faximportant taxation informationEligible Service Date/ /Personal Tax File NumberDate of Birth (dd/mm/yyyy)/ /I am a resident of Australia for Taxation Purposes Yes NoBENEFICIARIES (please refer to the disclosure document or your adviser for details of who can be a beneficiary)It is recommended that you talk to your legal or financial adviser(s) prior to completion of this section.Please note: It is not necessary to complete this section at application time as beneficiary nominations can be made or changed atany time. If you wish to nominate beneficiaries at this stage, please tick the appropriate box and we will forward you the relevantforms for completion.I would like to make a Non-binding general statement of wishes concerning the disposition of my assets in the event of my deathI wish to make a Binding Death Benefit Nomination concerning the disposition of my assets in the event of my deathsuper solutions.49

Delaration, Acknowledgements and Undertakings1.2.3.4.5.I apply to become a Member of the Fund.I declare that all information on this Application Form is true and correct.I agree to be bound by the trust deed governing the Fund as amended from time to time.I acknowledge that I have received and read a current copy of the Disclosure Document. If I have received this Disclosure Document fromthe internet or other electronic means, I declare that I have received it personally, or a printout of it, accompanied by or attached to thisApplication Form before making an application.I understand that contributions can generally only be made for or on my behalf to the Fund if I am an Australian resident for taxationpurposes and:a.b.c.I am under 75 and have worked at least 40 hours in a period of 30 consecutive days during the financial year;I am under 65; orI am rolling over a superannuation benefit.6.I undertake to provide the Trustee and the Administrator:a.b.with any information requested which relates to this Fund; andany change to the information I have given in this Application Form.7.8.9.10.11.I authorise the provision of financial data with respect to the Fund to my adviser, appoint him/her to act on my behalf with respect tothe operations of the Fund and agree to the payment of fees as instructed on the Fund Application Form and as otherwise set out in theDisclosure Document and authorised by the nominated representative of the Fund.I request that Bell Potter change the address of my HIN and unlisted assets to Care of Bell Potter. Upon termination of this agreement, Irequest Bell Potter change the address of my assets (including my HIN) to my nominated address.I understand that if I do not make a binding death benefit nomination, the Trustee, in its absolute discretion, will on my death, determineto which of my dependants and/or legal personal representative(s) any benefits are to be paid and may take into account my nomination ofpreferred beneficiaries as advised to the Trustee from time to time.I acknowledge that neither Bell Potter AFSL No. 243480 nor smartsuper AFSL No. 247120 nor any of their associates or officersguarantee any particular rate of return, the capital invested nor the repayment of capital.I acknowledge I have read and understood the Privacy Policy and agree by completing and returning the relevant forms, to Bell Potter andsmartsuper using and disclosing my personal information as set out in the Privacy Policy.SignatureDate (dd/mm/yyyy)/ /50

personal superannuation solutionsmember application FormThis Application Form is based on the Disclosure Document issued by Bell Potter Securities Limited on 14 April 2011. Before you sign thisApplication Form, the Trustee or your adviser is obliged to give you a Disclosure Document (which is a summary of important informationrelating to the Fund). The Disclosure Document will help you to understand the product and decide if it is appropriate to your needs andcontains important information about standard fees and other terms regarding services offered by Bell Potter Securities Limited.Member Reference Number Member 1 Member 2 Member 3 Member 4Fund detailsExisting Name of Fund or Preferred Fund NameAccount Numberpersonal detailsTitleGiven Name(s)SurnameResidential AddressPostal Address (if different from above)Business Phone( )Home Phone( )Email AddressMobile Phone( )Faxpreferred contact methodsPreferred voice contact Home Phone Work Phone MobilePreferred written contact Postal Address E-Mail Faximportant taxation informationEligible Service Date/ /Personal Tax File NumberDate of Birth (dd/mm/yyyy)/ /I am a resident of Australia for Taxation Purposes Yes NoBENEFICIARIES (please refer to the disclosure document or your adviser for details of who can be a beneficiary)It is recommended that you talk to your legal or financial adviser(s) prior to completion of this section.Please note: It is not necessary to complete this section at application time as beneficiary nominations can be made or changed atany time. If you wish to nominate beneficiaries at this stage, please tick the appropriate box and we will forward you the relevantforms for completion.I would like to make a Non-binding general statement of wishes concerning the disposition of my assets in the event of my deathI wish to make a Binding Death Benefit Nomination concerning the disposition of my assets in the event of my deathsuper solutions.51

Delaration, Acknowledgements and Undertakings1.2.3.4.5.I apply to become a Member of the Fund.I declare that all information on this Application Form is true and correct.I agree to be bound by the trust deed governing the Fund as amended from time to time.I acknowledge that I have received and read a current copy of the Disclosure Document. If I have received this Disclosure Document fromthe internet or other electronic means, I declare that I have received it personally, or a printout of it, accompanied by or attached to thisApplication Form before making an application.I understand that contributions can generally only be made for or on my behalf to the Fund if I am an Australian resident for taxationpurposes and:a.b.c.I am under 75 and have worked at least 40 hours in a period of 30 consecutive days during the financial year;I am under 65; orI am rolling over a superannuation benefit.6.I undertake to provide the Trustee and the Administrator:a.b.with any information requested which relates to this Fund; andany change to the information I have given in this Application Form.7.8.9.10.11.I authorise the provision of financial data with respect to the Fund to my adviser, appoint him/her to act on my behalf with respect tothe operations of the Fund and agree to the payment of fees as instructed on the Fund Application Form and as otherwise set out in theDisclosure Document and authorised by the nominated representative of the Fund.I request that Bell Potter change the address of my HIN and unlisted assets to Care of Bell Potter. Upon termination of this agreement, Irequest Bell Potter change the address of my assets (including my HIN) to my nominated address.I understand that if I do not make a binding death benefit nomination, the Trustee, in its absolute discretion, will on my death, determineto which of my dependants and/or legal personal representative(s) any benefits are to be paid and may take into account my nomination ofpreferred beneficiaries as advised to the Trustee from time to time.I acknowledge that neither Bell Potter AFSL No. 243480 nor smartsuper AFSL No. 247120 nor any of their associates or officersguarantee any particular rate of return, the capital invested nor the repayment of capital.I acknowledge I have read and understood the Privacy Policy and agree by completing and returning the relevant forms, to Bell Potter andsmartsuper using and disclosing my personal information as set out in the Privacy Policy.SignatureDate (dd/mm/yyyy)/ /52

personal superannuation solutionsauthority Formname of superannuation fundFund NameAccount NumberI/We hereby authorise Bell Potter AFSL No. 243480 and smartsuper pty ltd AFSL No. 247120, my/our advisers and the administrators for theabove Superannuation Fund:1.2.To access and/or obtain copies of all information or documentation relating to my/our superannuation fund and investments.To organise for duplicate or electronic copies of any investment statements, dividend notices, broker accounts or bank statements to beforwarded to them.authorisation by members/trustees/directors of trustees companyFull Name Signature Date1234Please contact Bell Potter if you require further information:Bell Potter Securities LimitedC/- Portfolio Administration Service,GPO Box 4718, Melbourne, VIC, 3001Phone 1800 804 816 visit www.bellpotter.com.aue-mail to bppsfadmin@bellpotter.com.aufacsimile 03 9235 1880super solutions.53

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personal superannuation solutionsinvestment strategy selection FormFund NameAccount NumberinvestmentsSetting an Investment Strategy for the Fund should focus on theinvestment objective i.e. Income, Balanced or Growth. This takes intoaccount age and retirement time horizons and has regard to the risktolerance levels of the Members meeting their medium to long termobjectives.The Asset Allocation ranges should be set so that regular monitoringcan be done in a meaningful manner. Wide ranges suggest either youhave not thought about the strategy at all or that the Fund is going to bea heavy trader and hence have a highly speculative Investment Strategy.The ranges are not a wish list or a maybe list, but should be set so thatthe Fund can reasonably achieve them (e.g. a 30% range provides formarket movements and asset sector adjustment). Do not fill in acategory just because you think you might invest in it one day.Cash should be set to a minimum of 5% of the assets or an amount(converted to a %) to allow for expenses to be met without the need toredeem investments.Investing in assets not listed on a stock exchange may incuradditional valuation costs to satisfy audit requirements.standard asset allocationDepending on any restrictions in the Trust Deed or SuperannuationLaw, Non-standard Assets may include such things as:■■ Derivatives■■ Shares in private companies■■ Units in private unit trusts■■ Artwork■■ FarmsNon-standard Assets need to be valued at arms length (initiallyand ongoing) and are NOT such things as units in widely held unittrusts (i.e. Managed Investment Schemes). Note that the assetsunderlying the investment may be split over the underlyingStandard Asset Allocation or may be categorized as ‘Options’or ‘Other’ for reporting purposes. Non-standard Assets may begenerally illiquid, subject to the In-house Assets rules, Sole Purposetests and other Superannuation Law and may contain greater risk offinancial loss (especially where underlying leverage forms part ofthe investment).Where the Investment Strategy includes Non-standard Assetsit will require the Trustees to confirm the rationale for theselection of the particular investment and detail risk managementstrategies put in place (e.g. for derivative investments a DerivativesRisk Statement is required).Signaturestandard asset allocationInvestment Strategy AllocationSigned by the Member(s) of the FundSignatureRangeAustralian Equities* % to %International Equities % to %Cash % to %Australian Fixed Interest % to %International Fixed Interest % to %Mortgages % to %Direct Property % to %Listed Property % to %Non-standard Asset Allocationplease adviseplease adviseState reason for inclusion* Derivative investments are a Non-Standard AssetACKNOWLEDGEMENTS1.2.3.4.5.% to %% to %I/We have taken into consideration investment risk anddiversification, likely returns, underlying volatility of differentAssets, the need to meet Member benefits when they fall dueand to discharge existing and prospective liabilities, and thegeneral tax characteristics of the different Assets;I/We have elected to adopt the above Investment Strategy forour Fund and request the Trustees consideration to adoptingthis Investment Strategy;I/We acknowledge that we have received, read and will retain acopy of the Disclosure Document dated 14/04/11.In the event that I/we determine to change this InvestmentStrategy I/we will seek the Trustees approval; andI/We acknowledge that the Trustees are ultimately responsiblefor all investment decisions in the Fund and that this form doesnot bind them to implement the asset allocation specified above.Date (dd/mm/yyyy)/ /SignatureDate (dd/mm/yyyy)/ /SignatureDate (dd/mm/yyyy)/ /Date (dd/mm/yyyy)/ /super solutions.55

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personal superannuation solutionslimited power of attorney FormBell Potter Securities LimitedABN 25 006 390 772 AFSL 243480I/Weofgrant this Power of Attorney in connection with the Portfolio Administration Service (PAS), being the administration and investmentmanagement services described in the Disclosure Document, offered by Bell Potter Securities Limited (Bell Potter) or its agents eitherseparately or in conjunction with the Bell Potter Personal Superannuation Solutions, for the purpose of authorising Bell Potter to undertakeall actions and perform all functions which are necessary for it to perform and undertake on my/our behalf in connection with the PAS.I/We hereby appoint Bell Potter and each officer or employee duly authorised by Bell Potter as my/our agent and attorney (‘attorney’) with fullpower and authority to undertake and perform on my/our behalf all actions which are necessary, usual or desirable to enable Bell Potter toperform all of the functions and fulfil all of the obligations which form part of the PAS from time to time, including (without limitation):■■ settlement of all purchases and sales;■■ subscriptions for, transfers of and other dealings in securities;■■ making application for units in (including, if applicable, for my/our initial application), and requesting the redemption of units from, my/ourCash Management Trust Account;■■ making withdrawals or debits from my/our nominated Cash Management Trust for payments associated with the operation of this service;■■ making deposits or credits to my/our Bank Account;■■ receiving notices from and giving instructions to third parties as necessary or incidental to the performance and fulfilment of all functions andobligations required to be performed by and fulfilled by Bell Potter on my/our behalf in connection with the PAS; and■■ executing and delivering all documents which are necessary or incidental to the performance and fulfilment of all functions and obligationsrequired to be performed and fulfilled by Bell Potter on my/our behalf as part of or in connection with the PAS.This Power of Attorney commences on the date of execution and will continue until the PAS is terminated in accordance with the Bell PotterThis Power of Attorney commences on the date of execution and will continue until the PAS is terminated in accordance with the Bell PotterPersonal Superannuation Solutions Disclosure Statement or, upon notification by me/us in writing.individual trustees to completeSignature of Individual 1Signature of WitnessName of Individual 1 (please print)Name of WitnessSignature of Individual 2Signature of WitnessName of Individual 2 (please print)Name of WitnessDate (dd/mm/yyyy)/ /corporate trustees to complete (Please note that two Directors or a Director and a Secretary must sign. Please indicate if the company is a Sole Director/Secretary.)Name of CompanySignature of Director/Sole DirectorSignature of Director/SecretaryName of Director (please print)Name of Director/Secretary (please print)Date (dd/mm/yyyy)/ /super solutions.57

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personal superannuation solutionsrollover request Form (cash in and rollover)Please Note: Completion of this form will result in any investments you have with the other superannuation fund/institution being sold andconverted to cash prior to being transferred which may result in tax being deducted before the transfer. If you are unsure about the impact thismay have on your benefit you should consult your financial adviser.Date (dd/mm/yyyy)Fund details/ /Rollover Institution/Fund Administrator/TrusteeInstitution Phone NumberCurrent Fund Name (if applicable)AddressPolicy/Account Numbermember detailsTitleGiven Name(s)SurnameAddressDate of Birth (dd/mm/yyyy)/ /Certified photocopy confirming Member identity enclosed .transfer detailsPlease transfer the balance of my account with your organisation by cheque made payable to:Name of Trustee(s)as trustee forName of FundABNauthorisationI hereby authorise you to:forward the balance of my account by cheque or via Electronic Funds Transfer to my nominated superannuation account; andprovide any other relevant or requested information regarding my accountTo the Administrator of the Fund as follows:Bell Potter Personal Superannuation Solutions PO Box 529 North Sydney NSW 2059. Please phone 1300 730 138 if you have any queriesSignatureDate (dd/mm/yyyy)/ /Compliance StatementWe wish to confirm the following in respect of the Fund:1. The Fund is a Regulated Superannuation Fund for the purposes of SIS.2. The governing trust deed of the Fund allows benefits to be transferred to the Fund, with no minimum amount applicable.3. The Fund is administered to satisfy ‘member protection standards’ prescribed under SIS and the Regulations thereto.4. Benefits under the Fund are subject to the preservation requirements prescribed under SIS and the Regulations thereto.5. We are willing to accept the transfer of superannuation monies on a trustee to trustee basis.6. Members are not permitted to borrow monies from the Fund.Please note that this document complies with Reg. 6.29 – regulated superannuation funds, of the Superannuation Industry (Supervision) Act 1993.super solutions.59

personal superannuation solutionsrollover request Form (in specie transfer)WARNING! Transferring assets In Specie may not be permitted by all institutions. Transferring assets in this form does not eliminate theneed to pay any tax on what is effectively a ‘sale’ from one entity to another. If you are unsure about how you will pay any required tax prior totransfer or the impact this may have on your benefit you should consult your financial adviser.Date (dd/mm/yyyy)Fund details/ /Rollover Institution/Fund Administrator/TrusteeInstitution Phone NumberCurrent Fund Name (if applicable)AddressPolicy/Account Numbermember detailsTitleGiven Name(s)SurnameAddresstransfer details Please transfer all my investments with your organisation IN SPECIE to:Date of Birth (dd/mm/yyyy)/ /Certified photocopyconfirming Member identityenclosed.Name of Trustee(s)as trustee forName of fundABNauthorisationI hereby authorise you to:forward the transfer documentation; andprovide any other relevant or requested information regarding my accountTo the Administrator of the Fund as follows:Bell Potter Personal Superannuation Solutions PO Box 529 North Sydney NSW 2059Please phone 1300 730 138 if you have any queriesSignatureDate (dd/mm/yyyy)/ /Compliance StatementWe wish to confirm the following in respect of the Fund:1. The Fund is a Regulated Superannuation Fund for the purposes of SIS.2. The governing trust deed of the Fund allows benefits to be transferred to the Fund, with no minimum amount applicable.3. The Fund is administered to satisfy ‘member protection standards’ prescribed under SIS and the Regulations thereto.4. Benefits under the Fund are subject to the preservation requirements prescribed under SIS and the Regulations thereto.5. We are willing to accept the transfer of superannuation monies on a trustee to trustee basis.6. Members are not permitted to borrow monies from the Fund.Please note that this document complies with Reg. 6.29 – regulated superannuation funds, of the Superannuation Industry (Supervision) Act 1993.60

personal superannuation solutionsrollover request Form (cash in and rollover)Please Note: Completion of this form will result in any investments you have with the other superannuation fund/institution being sold andconverted to cash prior to being transferred which may result in tax being deducted before the transfer. If you are unsure about the impact thismay have on your benefit you should consult your financial adviser.Date (dd/mm/yyyy)Fund details/ /Rollover Institution/Fund Administrator/TrusteeInstitution Phone NumberCurrent Fund Name (if applicable)AddressPolicy/Account Numbermember detailsTitleGiven Name(s)SurnameAddressDate of Birth (dd/mm/yyyy)/ /Certified photocopy confirming Member identity enclosed .transfer detailsPlease transfer the balance of my account with your organisation by cheque made payable to:Name of Trustee(s)as trustee forName of FundABNauthorisationI hereby authorise you to:forward the balance of my account by cheque or via Electronic Funds Transfer to my nominated superannuation account; andprovide any other relevant or requested information regarding my accountTo the Administrator of the Fund as follows:Bell Potter Personal Superannuation Solutions PO Box 529 North Sydney NSW 2059. Please phone 1300 730 138 if you have any queriesSignatureDate (dd/mm/yyyy)/ /Compliance StatementWe wish to confirm the following in respect of the Fund:1. The Fund is a Regulated Superannuation Fund for the purposes of SIS.2. The governing trust deed of the Fund allows benefits to be transferred to the Fund, with no minimum amount applicable.3. The Fund is administered to satisfy ‘member protection standards’ prescribed under SIS and the Regulations thereto.4. Benefits under the Fund are subject to the preservation requirements prescribed under SIS and the Regulations thereto.5. We are willing to accept the transfer of superannuation monies on a trustee to trustee basis.6. Members are not permitted to borrow monies from the Fund.Please note that this document complies with Reg. 6.29 – regulated superannuation funds, of the Superannuation Industry (Supervision) Act 1993.super solutions.61

personal superannuation solutionsrollover request Form (in specie transfer)WARNING! Transferring assets In Specie may not be permitted by all institutions. Transferring assets in this form does not eliminate theneed to pay any tax on what is effectively a ‘sale’ from one entity to another. If you are unsure about how you will pay any required tax prior totransfer or the impact this may have on your benefit you should consult your financial adviser.Date (dd/mm/yyyy)Fund details/ /Rollover Institution/Fund Administrator/TrusteeInstitution Phone NumberCurrent Fund Name (if applicable)AddressPolicy/Account Numbermember detailsTitleGiven Name(s)SurnameAddresstransfer details Please transfer all my investments with your organisation IN SPECIE to:Date of Birth (dd/mm/yyyy)/ /Certified photocopyconfirming Member identityenclosed.Insert Name of Trustee(s)as trustee forName of fundABNauthorisationI hereby authorise you to:forward the transfer documentation; andprovide any other relevant or requested information regarding my accountTo the Administrator of the Fund as follows:Bell Potter Personal Superannuation Solutions PO Box 529 North Sydney NSW 2059Please phone 1300 730 138 if you have any queriesSignatureDate (dd/mm/yyyy)/ /Compliance StatementWe wish to confirm the following in respect of the Fund:1. The Fund is a Regulated Superannuation Fund for the purposes of SIS.2. The governing trust deed of the Fund allows benefits to be transferred to the Fund, with no minimum amount applicable.3. The Fund is administered to satisfy ‘member protection standards’ prescribed under SIS and the Regulations thereto.4. Benefits under the Fund are subject to the preservation requirements prescribed under SIS and the Regulations thereto.5. We are willing to accept the transfer of superannuation monies on a trustee to trustee basis.6. Members are not permitted to borrow monies from the Fund.Please note that this document complies with Reg. 6.29 – regulated superannuation funds, of the Superannuation Industry (Supervision) Act 1993.62

definitionsADVISERAdviser means Bell Potter Adviser(unless the context indicates otherwise).APPLICATION FORMSApplication Forms means the applicationforms attached to this DisclosureDocument, which are to be completed bythe Trustees and Members of the Fund.APPROVED AUDITORApproved Auditor means an auditorauthorised by law to audit self-managedsuperannuation Funds.BELL POTTER ADVISERBell Potter Adviser means the Bell Potterrepresentative providing the Trusteeswith investment advice in relation to thesecurities market.Corporate TrusteeCorporate Trustee means the Company toact as Trustee of the Fund, of which eachMember must be a director.Death Benefits DependantDeath Benefits Dependant of a personincludes spouses (or former spouses),children under 18 years of age,persons with whom the person has aninterdependency relationship and anyonefinancially dependent on the person.DeedDeed means Trust Deed.Dependant or dependantsDependant or dependants includes thespouse of a person, any child of theperson, any person with whom the personhad an interdependency relationshipand anyone financially dependent on theperson, including same-sex partners.FundFund means the superannuation fund tobe specified in the Application Forms.Interdependency RelationshipTwo people will typically have aninterdependency relationship if:• they have a close personalrelationship; and• they live together; and• one or each of them provides theother with financial support; and• one or each of them provides theother with domestic support andpersonal care.If two people have a close personalrelationship but do not satisfy the otherconditions referred to above becauseeither or both of them suffer from aphysical, intellectual or psychiatricdisability, they may nevertheless have aninterdependency relationship.Investment StrategyInvestment Strategy sets out theinvestment objectives of the Fund anddetails the investment methods the Fundwill adopt to achieve these objectives.MemberMember means each Member of theFund to be specified in the ApplicationForms;MinutesMinutes means a record of Trustees’meetings and decisions (where mattersof the Fund were discussed).RegulatorRegulator means the Australian TaxationOffice (ATO).SMSFSMSF means a self-managedsuperannuation fund for the purposes ofSuperannuation Law.Superannuation LawSuperannuation Law means theSuperannuation Industry (Supervision)Act 1993 and regulations and theCorporations Act 2001 and regulations(where applicable).Tax LawTax Law means the Income TaxAssessment Act 1936, the IncomeTax Assessment Act 1997 and relatedregulations.TrusteesTrustees mean the Trustees of the Fundto be specified in the Application Forms.Trust DeedTrust Deed means the legal document(s)which establishes the Fund (includingany amending deeds) and contains thegoverning rules for the operation of theFund. Superannuation Laws also containrules that apply to the operation of yourFund and are deemed to be part of everyFund’s Trust Deed.63

Bell PotterSecurities LimitedLevel 29, 101 Collins StreetMelbourne VIC 3000AustraliaGPO Box 4718Melbourne VIC 3001AustraliaToll Free 1800 804 816Fax 03 9256 8787www.bellpotter.com.auABN 25 006 390 772AFS Licence No. 243 480