Fund establishment developments in a digitised new world – SuperStream, director IDs, electronic document execution

National Conference 2022

The global pandemic has accelerated the digitisation of many aspects of every life and SMSFs have not been immune to these measures. With a digitisation approach, comes new processes, learnings and challenges that as practitioners we need to understand and explore to meet the needs of our clients.

This session will provide important insights for you to better understand the impact of these measures on how you will engage with new trustees and changes within a fund’s trustee structure.

After this session, attendees will be able to:

  • Understand the new SuperStream requirements for rollovers to ensure that SMSFs comply with the revised payment and data standards.
  • Analyse and evaluate the impact of the new director identification number requirements, both for new directors and the transitional rules for existing directors of an SMSF corporate trustee.
  • Analyse the impact of the electronic signing requirements both at a Commonwealth and State level, understanding how these interplay with the Electronic Transactions Act for SIS purposes.
  • Gain practical insights into the challenges of the establishment process from the Regulator’s viewpoint and other stakeholders within the rollover process.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association