COMMONWEALTH SMSF. Set-up and administration service Member Dashboard Guide.

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1 COMMONWEALTH SMSF Set-up and administration service Member Dashboard Guide.

2 2 Commonwealth SMSF Member Dashboard Guide COMMONWEALTH SMSF Your online Member Dashboard provides tools to help you manage your fund. You can view and access your fund s up to date information, including fund and member records, investment valuation, and documents and reports. Member Dashboard home page

3 Commonwealth SMSF Member Dashboard Guide 3 The Member Dashboard home page provides a snapshot of your fund including: Current investment value Actual asset class allocation against target asset class allocation defined in your current fund investment strategy Tasks that require your attention Member contribution levels for the current year Member pension drawings for the current year. From the dashboard home page, you can navigate to other areas within the dashboard to view detailed fund and member records, and can perform actions including setting up alerts and raising requests with us. Outstanding Tasks To help you keep your fund up to date, if there are any administration or compliance tasks you need to attend to, this will be displayed on your dashboard. This may be minutes of meetings that you need to sign. You would simply click on the task, read the minutes, input your password and close it. The minutes will be electronically signed and recorded for audit purposes. You can also choose to be notified of a task by , text message or post. If you nominated to receive post, the task will be displayed on your dashboard and the document will have been posted for your attention. You can then sign, scan and upload it to the task, or just post it back to us to complete the task. To nominate your communication preference through the dashboard: 1. Go to My Fund Records tab 2. Click Change Details 3. Select Communications and then nominate your communication preference for task notification.

4 4 Commonwealth SMSF Member Dashboard Guide To view the current status of tasks for your fund through the dashboard: 1. Go to the My Fund Records tab 2. Select the Tasks menu item. You can also submit requests including the following items, and monitor their progress from the Requests tab: Requesting a pension Requesting a rollover Requesting a lump sum payment Changing contact details Changing the fund investment strategy Requesting additional user logins. Investment strategy monitoring You can view your fund s actual asset class allocation (and investments under each asset class when you hover your mouse over the diamond icon on any of the fund s asset class range) against target asset class allocation defined in your current fund investment strategy. It will display the latest available valuation of your fund s investments. If you decide to change your investments to align to the current fund investment strategy, or raise a request to change your fund s investment strategy, we will generate a set of minutes which can be signed online by the trustees by entering their passwords. You can also set up an alert to notify you if your fund s investments no longer match the investment strategy. 1. Go to the My Fund Records tab 2. Click Change Details 3. Select Communications and then nominate your communication preference. Contribution cap monitoring Contributions are an important area that requires careful monitoring. There are annual limits on how much you can contribute to your super for each member without incurring additional tax. We can help you allocate and monitor your contributions and let you know when you and other members are reaching your contribution caps. You can also view all contributions to your fund by member and contribution type for the current and previous years. If you haven t set up the contribution cap instructions, you ll receive a task from us to provide more information on your contributions and allocations.

5 Commonwealth SMSF Member Dashboard Guide 5 Alerts can be set up to notify you when members are approaching their nominated percentage of contribution caps. The default alert is at 85% of contribution caps, but this can be set at any percentage. Please note that we are only aware of contributions made to your fund administered by us. You will need to consider any contributions made to another super fund when calculating whether you have exceeded your contribution caps for the year. To set up alerts for contributions: 1. Go to the My Fund Records tab 2. Click Change Details 3. Select Communications and then nominate the percentage of contribution caps and your communication preference. Pension monitoring You can see where you and each member stand against your annual minimum and any maximum pension payments for the current year. From here you can also view members with current active pensions, as well as a full list of current and previous years pension payments. This is also visible from Accounts & Pensions menu under My Fund Record tab. If you don t withdraw your minimum amount, you may lose the tax exempt status of your pension assets. An alert can be set up to notify you in April, May or June if you haven t drawn your annual minimum pension, and/or if you are approaching your annual maximum pension payment for the current year. To set up alerts for pension: 1. Go to the My Fund Record tab 2. Click Change Details 3. Select Communications and then nominate for each member when (April, May, or June) you want us to notify you if annual minimum pension has not been met and/or when a member is approaching (define percentage of maximum) your annual maximum pension payment for the current year.

6 6 Commonwealth SMSF Member Dashboard Guide MY FUND RECORD SECTION Fund Details and Member Details Fund Details display information for your fund including Australian Business Number (ABN) and Tax File Number (TFN), and trustee(s) and members names. Member Details contains members personal details including contact information, and any death benefit nominations. You can change your fund or member details using Change Details, or by raising a request through the Requests tab. We will update your details including informing the Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC) where necessary.

7 Communication & Alerts Commonwealth SMSF Member Dashboard Guide 7

8 8 Commonwealth SMSF Member Dashboard Guide You can set up a range of communication and alert notifications, and decide who receives the notification from us, and how they receive it ( , SMS or post). The majority of communications will also be visible on the dashboard. Communications and alerts available include: Annual reports Minutes Payments due Tasks for completion or overdue Outside the Investment Strategy - when your fund s investments no longer match the investment strategy, so you can either amend your strategy or change the investments Contribution cap monitoring when members are getting close to their contribution caps Pension monitoring where members stand against their annual minimum and any maximum pension payments. You should set up your communication preferences when you log on for the first time to the dashboard.

9 Investments Commonwealth SMSF Member Dashboard Guide 9

10 10 Commonwealth SMSF Member Dashboard Guide You can view a list of your current fund investments and latest valuations. For investments where a data feed has been provided by financial institutions based on your authorisation, the valuation is based on data as of close of last business day. For non-data fed assets such as property, it will be based on the last valuation you provided. You can also select a date and see the value of your fund investments at that point in time (based on the valuation timing above). Accounts & Pensions

11 Commonwealth SMSF Member Dashboard Guide 11 You can view the current account balance of each member account and for members in pension, the current active pensions, as well as a full list of pension payments (current and past) with all transactions and lump sum withdrawals made. Documents & Reports In this section you can: View your latest fund documents Search for documents such as trust deeds, minutes, tax returns, and invoices Upload and store documents There are two main types of reports: Investment reports - assets of the fund and their performance Fund reports - show the member balances and components, balance sheet, and income and expenses

12 WE ARE HERE TO HELP If you have any questions or require assistance, please contact our Client Services Team on or send us an on Commonwealth SMSF ( Administration Service ) is a service offered by Commonwealth Securities Limited ABN AFSL (CommSec), a member of the Commonwealth Bank Group. CommSec has engaged SuperIQ Pty Ltd ABN AFSL to provide self managed super fund establishment and administration services including related technology services in relation to the Administration Service. The information in this Guide has been prepared without taking account of your personal needs, financial situation or objectives. Before acting on the information you should consider whether the Administration Service is appropriate for you and if you should seek financial advice. We recommend that you read the Commonwealth SMSF Administration Services Guide and CommSec Financial Services Guide and seek financial advice before making a decision.