Citizen Family Super Fund

Transcription

1 KINDLY SIGN AND RETURN TO OUR OFFICE Citizen Family Super Fund For the year ended 30 June 2012 Superfund Partners Pty Ltd A.B.N Ph: (07) Fax: (07) Queen Street, Southport, Qld 4215 PO Box 10453, Southport BC, Qld 4215

2 Income Member Receipts Contributions Employer Member Investment Gains Realised Capital Gains Investment Income Distributions Dividends Foreign Income Interest Other Income Expenses Member Payments Pensions Paid Other Expenses Accountancy Fee Auditor Fee Investment Losses Decrease in Market Value Citizen Family Super Fund Operating Statement For the period 1 July 2011 to 30 June 2012 Note 8A 7A 7B 7C 7D 8B 2012 $ 2011 $ 5,000 95, , ,442 16,336 5,093 33,723 25, ,775-50,000 55, ,069 8,000 12,000-3, ,611 (252,620) 168,611 (236,770) Benefits Accrued as a Result of Operations before Income Tax (112,885) 914,838 Income Tax Income Tax Expense (16,783) 77,886 (16,783) 77,886 Benefits Accrued as a Result of Operations (96,102) 836,952 The accompanying notes form part of these financial statements. This report should be read in conjunction with the accompanying compilation report.

3 Citizen Family Super Fund Statement of Financial Position as at 30 June 2012 Note 2012 $ Assets Investments Direct Property 6A 495,000 Managed Investments 6B 672,041 Shares in Listed Companies 6C 512,237 Other Assets Cash At Bank 208,733 DRP Residual 55 Total Assets 1,888,065 Liabilities Income Tax Payable Deferred Tax Liability Total Liabilities 41,393 10,033 51,426 Net Assets Available to Pay Benefits 1,836,640 Represented by: Liability for Accrued Benefits 2 Mr 997,719 Mrs Mary Citizen 797,910 Reserve 41,010 Total Liability for Accrued Benefits 1,836,640 The accompanying notes form part of these financial statements. This report should be read in conjunction with the accompanying compilation report.

4 In the opinion of the Trustees of the Citizen Family Super Fund. Citizen Family Super Fund Trustee Declaration The Fund is not a reporting entity and this special purpose financial report should be prepared in accordance with the accounting policies described in Note 1 to these financial statements. (i) (ii) the financial statements and notes to the financial statements for the year ended 30 June 2012 present fairly the financial position of the Fund at 30 June 2012 and the results of its operations for the year then ended in accordance with the accounting policies described in Note 1 to the financial statements; and the financial statements and notes to the financial statements have been prepared in accordance with the requirements of the Trust Deed; and (iii) the operation of the Fund has been carried out in accordance with its Trust Deed and in compliance with the requirements of the Superannuation Industry (Supervision) Act 1993 during the year ended 30 June Signed in accordance with a resolution of the directors of the trustee company by: Signature: superfundpartners+marycitizen@gmail.com Oct 3, Dated:.../.../... Mary Citizen Director, Citizen Super Pty Ltd Signature: Mary Citizen Mary Citizen (Oct 3, 2012) (Oct 3, 2012) superfundpartners+johncitizen@gmail.com Oct 3, Dated:.../.../... Director, Citizen Super Pty Ltd

5 Compilation Report to the Trustees and Members of Citizen Family Super Fund ABN For the period 1 July 2011 to 30 June 2012 On the basis of the information provided by the Trustees of Citizen Family Super Fund, we have compiled the accompanying special purpose financial statements of Citizen Family Super Fund for the period ended 30 June 2012, which comprise the Statement of Financial Position, Operating Statement, a summary of significant accounting policies and other explanatory notes. The specific purpose for which the special purpose financial statements have been prepared is to provide information relating to the performance and financial position of Citizen Family Super Fund that satisfies the information needs of the trustees and the members. The Responsibility of Trustees The Trustees of Citizen Family Super Fund are solely responsible for the information contained in the special purpose financial statements and have determined that the basis of accounting adopted and financial reporting framework used are appropriate to meet the needs of the members. Our Responsibility On the basis of information provided by the Trustees of Citizen Family Super Fund, we have compiled the accompanying special purpose financial statements in accordance with the same financial reporting framework/basis of accounting used above and APES 315: Compilation of Financial Information. Our procedures use accounting expertise to collect, classify and summarise the financial information, which the Trustees provided, in compiling the financial statements. Our procedures do not include verification or validation procedures. No audit or review has been performed and accordingly no assurance is expressed. The special purpose financial statements were compiled exclusively for the benefit of the Trustees and members of the fund and purpose identified above. We do not accept responsibility to any other person for the contents of the special purpose financial statements. Signature of Partner, Director or Accountant Dated: 3/10/2012 Name of Signatory Address Superfund Partners Pty Ltd 80 Queen Street SOUTHPORT, QLD 4215 Page 1 of 1

6 MINUTES OF THE MEETING OF THE TRUSTEE(S) OF THE CITIZEN FAMILY SUPER FUND HELD ON 30 JUNE, 2011 AT 80 QUEEN STREET SOUTHPORT, QLD PRESENT: REPORTS AND STATEMENTS: Mary Citizen and The Statement of Financial Position, Operating Statement and Notes thereto, Trustee's Declaration, Auditor's Report, Member Statements and Self Managed Superannuation Fund Annual Return for the period ended 30 June 2012 were tabled. It was resolved that: (a) The Statement of Financial Position, Operating Statement and Notes thereto, Auditor's Report and Member Statements be adopted by the Trustee and the Trustee be authorised to sign the Trustee Declaration, (b) The Self Managed Superannuation Fund Annual Return be adopted and signed by a representative of the trustee, and (c) The Trustee's Declaration be adopted and signed by the trustee. CLOSURE: There being no further business the meeting was closed. (Oct 3, 2012) Oct 3, Dated:.../.../... Chairperson

7 Period 1 July June 2012 Member Number: 1 Mr John Paul Citizen Citizen Family Super Fund (ABN: ) Consolidated Member Benefit Totals Member Account Details Residential Address: 80 Queen Street Southport, Qld 4215 Date of Birth: 12 April 1952 Date Joined Fund: 22 June 2007 Eligible Service Date: 21 February 1992 Tax File Number Held: Note: this report provides a consolidated view of the Member's interests in the SMSF Refer to the Member Benefit Statements produced for each member account for further details Yes Your Accounts Withdrawal Benefit as at 1 Jul 2011 Accumulation 318,052 Transition to Retirement Income Stream 738,705 Total as at 1 Jul ,056,757 Withdrawal Benefit as at 30 Jun 2012 Accumulation 308,657 Transition to Retirement Income Stream 689,062 Total as at 30 Jun ,719 Your Tax Components Tax Free 607,856 Taxable - Taxed 389,863 Taxable - Untaxed - Your Preservation Components Preserved Restricted Non Preserved Unrestricted Non Preserved 997, Your Insurance Benefits Balance Insurance Total Benefit On Death On TPD Salary Cont Your Beneficiaries Non Binding Beneficiary Nomination 100% to Wife - Mary Citizen 997,719 1,000,000 1,997, ,719 1,000,000 1,997,719 - For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

8 Citizen Family Super Fund (ABN: ) Member Benefit Statement Period 1 July June 2012 Member Mr John Paul Citizen Accumulation Account Accumulation Your Account Summary Number: 1 Member Account Details Residential Address: 80 Queen Street Southport, Qld 4215 Date of Birth: 12 April 1952 Date Joined Fund: 22 June 2007 Eligible Service Date: 21 February 1992 Tax File Number Held: Yes Account Start Date: 22 June 2007 Your Tax Components Withdrawal Benefit as at 1 Jul ,052 Increases to your account: Employer Contributions 5,000 Tax on Net Fund Income 4,718 Total Increases 9,718 Decreases to your account: Contributions Tax 750 Share Of Net Fund Income 18,362 Total Decreases Withdrawal Benefit as at 30 Jun , ,657 Tax Free % 200,000 Taxable - Taxed 108,657 Taxable - Untaxed - Your Preservation Components Preserved 308,657 Restricted Non Preserved - Unrestricted Non Preserved - Your Insurance Benefits On Death On TPD Salary Cont Your Beneficiaries Balance 308, ,657 Non Binding Beneficiary Nomination 100% to Wife - Mary Citizen Insurance 1,000,000 1,000,000 - Total Benefit 1,308,657 1,308,657 For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

9 Citizen Family Super Fund (ABN: ) Member Benefit Statement Period 1 July June 2012 Member Number: 1 Mr John Paul Citizen Pension Account Transition to Retirement Income Stream Your Account Summary Withdrawal Benefit as at 1 Jul ,705 Decreases to your account: Pension Payments 8,000 Share Of Net Fund Income 41,644 Total Decreases 49,644 Withdrawal Benefit as at 30 Jun ,062 Member Account Details Residential Address: 80 Queen Street Southport, Qld 4215 Date of Birth: 12 April 1952 Date Joined Fund: 22 June 2007 Eligible Service Date: 21 February 1992 Tax File Number Held: Yes Account Start Date: 1 July 2009 Your Tax Components Tax Free % 407,856 Taxable - Taxed 281,205 Taxable - Untaxed - Your Preservation Components Preserved 689,062 Restricted Non Preserved - Unrestricted Non Preserved - Your Insurance Benefits No insurance details have been recorded Your Beneficiaries Non Binding Beneficiary Nomination 100% to Wife - Mary Citizen For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

10 Trustee The Trustee of the Fund is as follows: Citizen Super Pty Ltd The directors of the Trustee company are: Mary Citizen and Availability of Other Fund Information Additional information regarding your membership is available on request. What your Fund can do is governed by the provisions of its Trust Deed, which is available for inspection. If you require further information or clarification of any aspect of your membership of the Fund, please contact your Fund's Administrator or Trustee. Trustee Disclaimer This statement has been prepared by the Trustee for the member whose name appears at the top of this statement. While every effort has been made by the Trustee to ensure the accuracy and completeness of this statement, the Trustee does not accept any liability for any errors, omissions or misprints. Signed on behalf of the Trustee of the Fund Mary Citizen Mary Citizen (Oct 3, 2012)... Mary Citizen Director - Citizen Super Pty Ltd (Oct 3, 2012)... Director - Citizen Super Pty Ltd Statement Date: 30 June 2012 For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

11 Period 1 July June 2012 Member Number: 2 Mrs Mary Elizabeth Citizen Citizen Family Super Fund (ABN: ) Consolidated Member Benefit Totals Member Account Details Residential Address: 80 Queen Street Southport, Qld 4215 Date of Birth: 12 June 1956 Date Joined Fund: 22 June 2007 Eligible Service Date: 1 May 2001 Tax File Number Held: Note: this report provides a consolidated view of the Member's interests in the SMSF Refer to the Member Benefit Statements produced for each member account for further details Yes Your Accounts Withdrawal Benefit as at 1 Jul 2011 Accumulation 833,163 Total as at 1 Jul ,163 Withdrawal Benefit as at 30 Jun 2012 Accumulation 797,910 Total as at 30 Jun ,910 Your Tax Components Tax Free 487,742 Taxable - Taxed 310,168 Taxable - Untaxed - Your Preservation Components Preserved 797,910 Restricted Non Preserved - Unrestricted Non Preserved - Your Insurance Benefits On Death On TPD Salary Cont Your Beneficiaries Balance 797, ,910 Non Binding Beneficiary Nomination 100% to Husband - Insurance 900, ,000 - Total Benefit 1,697,910 1,697,910 For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

12 Citizen Family Super Fund (ABN: ) Member Benefit Statement Period 1 July June 2012 Member Mrs Mary Elizabeth Citizen Accumulation Account Accumulation Your Account Summary Number: 2 Member Account Details Residential Address: 80 Queen Street Southport, Qld 4215 Date of Birth: 12 June 1956 Date Joined Fund: 22 June 2007 Eligible Service Date: 1 May 2001 Tax File Number Held: Yes Account Start Date: 22 June 2007 Your Tax Components Withdrawal Benefit as at 1 Jul ,163 Increases to your account: Tax on Net Fund Income 12,189 Total Increases 12,189 Decreases to your account: Share Of Net Fund Income 47,441 Total Decreases Withdrawal Benefit as at 30 Jun , ,910 Tax Free % 487,742 Taxable - Taxed 310,168 Taxable - Untaxed - Your Preservation Components Preserved 797,910 Restricted Non Preserved - Unrestricted Non Preserved - Your Insurance Benefits On Death On TPD Salary Cont Your Beneficiaries Balance 797, ,910 Non Binding Beneficiary Nomination 100% to Husband - Insurance 900, ,000 - Total Benefit 1,697,910 1,697,910 For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

13 Trustee The Trustee of the Fund is as follows: Citizen Super Pty Ltd The directors of the Trustee company are: Mary Citizen and Availability of Other Fund Information Additional information regarding your membership is available on request. What your Fund can do is governed by the provisions of its Trust Deed, which is available for inspection. If you require further information or clarification of any aspect of your membership of the Fund, please contact your Fund's Administrator or Trustee. Trustee Disclaimer This statement has been prepared by the Trustee for the member whose name appears at the top of this statement. While every effort has been made by the Trustee to ensure the accuracy and completeness of this statement, the Trustee does not accept any liability for any errors, omissions or misprints. Signed on behalf of the Trustee of the Fund Mary Citizen Mary Citizen (Oct 3, 2012)... Mary Citizen Director - Citizen Super Pty Ltd (Oct 3, 2012)... Director - Citizen Super Pty Ltd Statement Date: 30 June 2012 For Enquiries: phone fax mail Citizen Family Super Fund, 80 Queen Street, Southport Qld 4215

14 MINUTES OF THE MEETING OF THE TRUSTEE(S) OF THE CITIZEN FAMILY SUPER FUND HELD ON 30 JUNE, 2011 AT 80 QUEEN STREET SOUTHPORT, QLD PRESENT: PURCHASES OF ASSETS: SALES OF ASSETS: and Mary Citizen It was resolved that having regard to the composition of the fund s existing investments, the fund s Investment strategy and its present liquidity, the purchase of the assets identified in the schedule hereto be confirmed. It was resolved that having regard to the composition of the fund s existing investments, the fund s investment strategy and its present liquidity, the sale of the assets identified in the schedule hereto be confirmed. CLOSURE: There being no further business the meeting was closed. (Oct 3, 2012) Oct 3, Dated:.../.../... Chairperson

15 Citizen Family Super Fund Accounts EchoSign Document History October 03, 2012 Created: October 03, 2012 By: Status: Transaction ID: Superfund Partners (info@superfundpartners.com.au) SIGNED ZW6CF9382RX379 Citizen Family Super Fund Accounts History Document created by Superfund Partners (info@superfundpartners.com.au) October 03, :00 PM GMT Document signing password set by Superfund Partners (info@superfundpartners.com.au) October 03, :00 PM GMT+10 Document ed to (superfundpartners+johncitizen@gmail.com) for signature October 03, :07 PM GMT+10 viewed by (superfundpartners+johncitizen@gmail.com) October 03, :08 PM GMT Document signing password entered by (superfundpartners+johncitizen@gmail.com) October 03, :09 PM GMT+10 Document esigned by (superfundpartners+johncitizen@gmail.com) October 03, :09 PM GMT Document ed to Mary Citizen (superfundpartners+marycitizen@gmail.com) for signature October 03, :09 PM GMT+10 viewed by Mary Citizen (superfundpartners+marycitizen@gmail.com) October 03, :10 PM GMT Document signing password entered by Mary Citizen (superfundpartners+marycitizen@gmail.com) October 03, :12 PM GMT+10 Document esigned by Mary Citizen (superfundpartners+marycitizen@gmail.com) October 03, :12 PM GMT Document ed to Superfund Partners (info@superfundpartners.com.au) for signature October 03, :12 PM GMT+10 viewed by Superfund Partners (info@superfundpartners.com.au) October 03, :13 PM GMT

16 Document esigned by Superfund Partners October 03, :13 PM GMT Signed document ed to Mary Citizen Superfund Partners and October 03, :13 PM GMT+10