Should you update your SMSF Trust Deed?
The Trust Deed of a Self-Managed Superannuation Fund governs the operation of the Fund and permits the Trustee to act to the extent permitted by the legislation and be able to comply with any superannuation changes.
Therefore, it is important to ensure that the Trust Deed remains current and that the Trustee has the authority under the Trust Deed to undertake particular actions.
Over the years there have been continuous changes in superannuation legislation. While many of these changes did not require the Trustee to update their Trust Deed, the recent superannuation reform changes are an instance of when the Trustee must ensure their Fund’s Trust Deed is up to date and compatible with the current superannuation law.
We will be in contact shortly to provide you with options regarding your Trust Deed update.
As always, before buying, selling, transferring assets, or making any payments, make sure your trust deed allows you to complete the transactions in the way you intended.
Tanya Hofbauer, Partner, Paris Financial
Follow me on Twitter @tanya_hofbauer