SMSF ADMINISTRATION SERVICE AGREEMENT

Transcription

1 SMSF ADMINISTRATION SERVICE AGREEMENT About our SMSF Service Establishing and operating a self-managed super fund (SMSF) is an exciting and positive step in your lifelong financial journey. SMSFs however do come with a number of administrative and compliance related obligations that should not be taken lightly. To address these needs your adviser has partnered with Superfund Wholesale to provide you with an easy to use SMSF Service. The key services included as part of the SMSF Service include: Establishment of a new SMSF including provision of a trust deed, all necessary minutes & declarations, Australian Business Number (ABN) & Tax File Number (TFN) applications with the Australian Tax Office (ATO), election to become a regulated super fund, corporate trustee incorporation (where applicable) and SMSF bank account establishment (where applicable). Independent auditor appointment and annual liaison and audit facilitation. Annual compliance obligations including preparation of financial statements, member statements and lodgement of the SMSF annual return to the ATO. Additional services where required including actuarial certification, trust deed amendments and lodgement of activity statements. The great thing about the Superfund Wholesale SMSF Service is that you don t need to deal with multiple people such an accountant, auditor or lawyer your adviser remains your sole contact point for all aspects of the management of your SMSF. The SMSF Administration Service The SMSF administration service has been specifically designed to meet your needs and the needs of the adviser who provides you with financial planning and advice services. The following section outlines in more detail the inclusions of the service. SMSF Establishment Provision of a high quality, strategically written trust deed. Provision of all minutes, forms and declarations for the establishment of the SMSF. Where a special purpose trustee company is utilised the constitution and associated minutes will be supplied. Lodgement of the ABN & TFN application including an election for the SMSF to be a regulated fund. Periodic Administration In most cases we will receive transactional data regarding your fund on a daily basis. This includes bank account transactions, share trading transactions and investment platform transactions. Most of the above transactions received will be automatically processed, however your SMSF accounts will be reviewed and reconciled on a monthly basis. Part of the monthly reconciliation process includes allocation and monitoring of contributions made to the fund and where applicable pension and lump sum payments made from the fund. Digital copies of fund records will be retained where they are required to support the accounts and independent audit of the SMSF. Annual Lodgement Obligations Preparation of annual financial statements and member statements. Preparation of all necessary minutes and declarations required for your SMSF for the year. Preparation and lodgement of the SMSF Annual Return to the ATO. Liaison and provision of all necessary records and documentation to the selected independent auditor of the fund. Where necessary arrange for the actuarial certificate for the fund to be prepared. Where required prepare and lodge GST annual returns, Business Activity Statements (BAS), Instalment Activity Statements (IAS) and PAYG Payment Summaries. Advise you of the annual taxation liability payment required for your SMSF Reporting You will be provided with copies of the annual financial statements, member statements and annual SMSF return upon completion of the annual lodgement obligations. Online access to your SMSF reports including investment and accounting reports is available at no additional cost. Service Providers You are entering a service agreement with Superfund Wholesale Pty Ltd (Superfund Wholesale) to provide SMSF administration services as outlined in this agreement. To enable the delivery of these services the following Service Providers are appointed:

2 SMSF Administrator and Tax Agent The following services as outlined in this agreement are provided by Superfund Wholesale: Periodic Administration Annual Lodgement Obligations Online Reporting Superfund Wholesale may also assist with the establishment of a new SMSF, trust deed updates, change of trustee services and limited recourse borrowing arrangements from time to time. Superfund Wholesale is a registered tax agent. Your adviser does not undertake any services that are considered to be a tax agent service as per Section 90-5 of the Tax Agent Services Act Auditor Wholesale to appoint an independent auditor to your SMSF. The appointed auditor must be registered with ASIC as an approved auditor. The following auditor will be appointed: Actuary ASF Audits Pty Ltd Wholesale to appoint an actuary to your SMSF where necessary. Our current approved actuarial certificate providers are: Lime Actuarial Pty Ltd Accurium Pty Ltd Trust Deed and SMSF Document Supplier Wholesale to appoint a trust deed and SMSF document supplier for your SMSF. Our current approved document suppliers are: NowInfinity Pty Ltd Topdocs Pty Ltd Software and Data Providers Wholesale to utilise the services of the following software and data providers: Class Super MYOB Banklink Release of Information to Third Parties We respect and value the professional relationship we have with our clients and are committed to protecting the privacy and confidentiality of information we collect from you. Like other financial services companies, there are situations where we must disclose your personal information in circumstances where it is: Required by law (such as to the ATO and the Australian Securities & Investments Commission) and; Authorised by law (such as where we are obliged to disclose information in the public interest or to protect our interests). We also will need to disclose some of your personal information to external Service Providers who assist us in providing our SMSF Service. By accepting this agreement, you authorise us to: Provide copies of all information or documentation relating to your SMSF and investments to the nominated service providers. Organise for duplicate or electronic copies of information including any investment statements, dividend notices, broker account reports or bank statements relating to your SMSF to be forwarded to the nominated service providers directly or via an intermediary service. Permit the above service providers to directly receive in electronic format via , data feed or secure download facility information including bank statement transactions, share trading transactions including contract notes, holding balance details and client details, wrap / investment platform account transactions and balances. Termination This Agreement may be terminated by either you or your adviser by providing 30 days notice in writing. We may also terminate this Agreement immediately if you have failed to pay any fees or you otherwise seriously breach your duties under this Agreement. Provided that all fees have been paid to the date of termination, we will forward the file relating to the SMSF to you personally or an alternate accountant or administrator that you engage within 30 days after termination of this Agreement. The file or files will be provided as either paper copies, electronic copies or a combination of both at our discretion. SMSF Administration Agreement

3 Variation of Agreement This Agreement may be varied from time to time by notifying you of any changes. If any changes are material, namely to the applicable fees payable, we will give you 30 days written notice. Commitment of the Trustee You acknowledge and agree that you will: a) Ensure that any activity of your SMSF is in compliance with the Trust Deed and the laws applicable. If in doubt you should contact us to discuss any possible breaches to the rules contained within the Trust Deed or the laws applicable to your SMSF; b) Ensure at least one bank account is open and maintained in the name of your SMSF. This bank account must only be used for transactions relating to your SMSF and will not be used for personal banking purposes; c) Retain sufficient funds in the bank account to pay regular outgoings including any applicable fees which may be debited on a monthly basis under a Direct Debit Agreement by us or Superfund Wholesale for provision of the SMSF services contained in this agreement; d) Sign any third-party authorities, other documents or take any steps necessary to ensure that we or any of the service providers appointed under this agreement can either directly or via other intermediary service providers receive all applicable bank account, share broker, wrap account or other provider transaction feeds and holding balance information. Failure to sign any requested third party authorities will result in your SMSF not being eligible for any applicable fixed fees quoted in this agreement; e) Ensure that all investments are made in the name of the Trustee of your SMSF; f) Provide us with any documentation or information requested for the completion of your accounts, SMSF annual return or compliance audit including the issuance of the annual report by the independent auditor of the fund within 14 days. Where we are required to contact you on more than two occasions to request documentation or information, we reserve the right to pass on additional costs resulting from our time spent obtaining this information from you. These charges will be in addition to any fees outlined this agreement. g) Indemnify us and any service providers listed in this agreement against all claims made against or suffered by us and any service providers listed in this agreement as a direct or indirect result of you failing to comply, or failing to comply in sufficient time, with any of your responsibilities and commitments listed above. You acknowledge and confirms that, for the purposes of this Agreement, any reference to your obligations includes the obligations of the trustee to the member and vice versa. Authority to Release Information By signing below, I/we authorise any third party to release information relating to the financial affairs of our SMSF (named below) to Superfund Wholesale. This may include (but is not limited to) bank, investment, insurance, superannuation and property information or statements. Please also accept a photocopy or electronic copy of this authority. Acceptance of Agreement By signing below, I/we accept the terms of this agreement and any attached schedules. Signature of Director / Trustee Signature of Director / Trustee SMSF Administration Agreement

4 Direct Debit Request New Customer Form Superfund Wholesale Pty Ltd Your details Please complete this form using a BLACK PEN, *indicates a mandatory field. Business: Superfund Wholesale Pty Ltd ABN/ACN: QFP SFW *Company Name: *Surname: *Given name(s): Mobile: Address: Suburb: State: Postcode: Please send me the related invoices via . Debit arrangement Including payment details, associated fees/charges detailed below and/or the total amount billed for the specified period for this and any subsequent periods or amendments between me/us and the Business and/or Ezidebit. Once only debit On date: Debit this amount: $. Regular debits Starting on date: Debit this amount: $. Frequency: Weekly Fortnightly Monthly (default) 4 Weekly Duration: Continue regular debits until further notice Until I have paid regular debits Choose your payment method Debit from credit card VISA MASTERCARD AMEX Card number: Expiry date: Name of cardholder: Debit from bank, building society or credit union account Financial institution: BSB number: Account holder name: Account number: Branch: I/we authorise Ezidebit Pty Ltd ACN (user ID ) to debit my/our account at the financial institution identified above through the Bulk Electronic Clearing System (BECS) in accordance with the debit arrangement stated above and this direct debit request as per the Ezidebit DDR Service Agreement (Ver 1.3) provided. This authorisation is to remain in force in accordance with the terms and conditions on this Direct Debit Request, the provided Ezidebit DDR Service Agreement (Ver 1.3) and I/we have read and understand the same. Signature(s) of Nominated Account: Date:

5 DDR SERVICE AGREEMENT (ver 1.3) I/We hereby authorise Ezidebit Pty Ltd ACN (Direct Debit User ID number ) (herein referred to as Ezideblt ) to make periodic debits on behalf of the Business as indicated on the attached Direct Debit Request (here in referred to as the Business ). I/We acknowledge that Ezidebit is acting as a Direct Debit Agent for the Business and that Ezidebit does not provide any goods or services (other than the direct debit collection services to me/us for the Business pursuant to the Direct Debit Request and this DDR Service Agreement) and has no express or implied liability in regards to the goods and services provided by the Business or the terms and conditions of any agreement that I/We have with the Business. I/We acknowledge that the debit amount will be debited from my/our account according to the terms and conditions of my/our agreement with the Business and the terms and conditions of the Direct Debit Request (and specifically the Debit Arrangement and the Fees/Charges detailed in the Direct Debit Request) and this DDR Service Agreement. I/We acknowledge that bank account and/or credit card details have been verified against a recent bank statement to ensure accuracy of the details provided and I/We will contact my/our financial institution if l/we are uncertain of the accuracy of these details. I/We acknowledge that is my/our responsibility to ensure that there are sufficient cleared funds in the nominated account by the due date to enable the direct debit to be honoured on the debit date. Direct debits normally occur overnight, however transactions can take up to three (3) business days depending on the financial institution. Accordingly, I/we acknowledge and agree that sufficient funds will remain in the nominated account until the direct debit amount has been debited from the account and that if there are insufficient funds available. l/we agree that Ezidebit will not be held responsible for any fees and charges that may be charged by either my/our or its financial institution. I/We acknowledge that there may be a delay in processing the debit if: (1) There is a public or bank holiday on the day of the debit, or any day after the debit date; (2) A payment request is received by Ezidebit on a day that is not a banking business day in Queensland; (3) A payment request is received after normal Ezidebit cut off times, being 4:00pm Queensland time, Monday to Friday. Any payments that fall due on any of the above will be processed on the next business day. I/We authorise Ezidebit to vary the amount of the payments from time to time as maybe agreed by me/us and the Businesses provided for within my/our agreement with the Business. l/we authorise Ezidebit to vary the amount of the payments upon receiving instructions from the Business of the agreed variations. l/we do not require Ezidebit to notify me/us of such variations to the debit amount. I/We acknowledge that Ezidebit is to provide at least 14 days notice if it proposes to vary any of the terms and conditions of the Direct Debit Request or this DDR Service Agreement including varying any of the terms of the debit arrangements between us. I/We acknowledge that l/we will contact the Business if I/We wish to alter or defer any of the debit arrangements. I/We acknowledge that any request by me/us to stop or cancel the debit arrangements will be directed to the Business. I/We acknowledge that any disputed debit payments will be directed to the Business and/or Ezidebit. If no resolution is forth coming, I/We agree to contact my/our financial institution. I/We acknowledge that if a debit is returned by my/our financial institution as unpaid, a failed payment fee is payable by me/us to Ezidebit. We will also be responsible for any fees and charges applied by my financial institution for each unsuccessful debit attempt together With any collection fees, including but not limited to any solicitor fees and/or collection agent fee as maybe incurred by Ezidebit. I/We authorise Ezidebit to attempt to re-process any unsuccessful payments as advised by the Business. I/We acknowledge that certain fees and charges (including setup, variation, SMS or processing fees) may apply to the Direct Debit Request and maybe payable to Ezidebit and subject to my/our agreement with the Business agree to pay those fees and charges to Ezidebit. You appoint Ezidebit as your exclusive agent with regard to the control, management and protection of your personal information (relating to the Business and contained in this DDR Service Agreement). You irrevocably authorise Ezidebit to take all necessary action (which we deem necessary) to protect your personal information, including (but not limited to) prohibiting the release to or access by third parties without our consent. You hereby irrevocably authorise, direct and instruct any third party who holds/stores keeps your personal information (relating to the Business and contained in this DDR Service Agreement) to release and provide such information to Ezidebit on our written request. Credit Card Payments I/We acknowledge that Ezidebit will appear as the merchant for all payments from my/our credit card. I/We acknowledge and agree that Ezidebit will not be held liable for any disputed transactions resulting in the non supply of goods and/or services and that all disputes will be directed to the Business as Ezidebit is acting only as a Direct Debit Agent for the Business. l/we acknowledge and agree that in the event that a claim is made, Ezidebit will not be liable for the refund of any funds and agree to reimburse Ezidebit for any successful claims made by the Card Holder through their financial institution against Ezidebit. Ezidebit will keep your information about your nominated account at the financial institution private and confidential unless this information is required to investigate a claim made relating to an alleged incorrect or wrongful debit. Or as otherwise required by law. Further information relating to Ezidebit s Privacy Policy can be found at com.au l/we acknowledge that Credit Card Fees are a minimum of the Transaction Fee or the Credit Card Fee, whichever is greater as detailed on the Direct Debit Request. I/We authorise: a) Ezidebit to verify details of my/our account with my/our financial institution; and b) my/our financial institution to release information allowing Ezidebit to verify my/our account details Ezidebit ACN: AFSL: PO Box 3327 Newstead, QLD 4006 Ph: (07) Fax: (07)