News

Electronic Service Address (ESA) for SMSFs

A reminder to all our Trustees to contact us if you are required to register before 28th May for an ESA.  We have previously addressed this matter in our last newsletter which you can read here

Our in-house financial planner, Rick from Moneyplan, has been busy investigating the best value for money providers.  If you have a cash management account with Macquarie already set up in your Fund, you will be provided with an ESA via Macquarie AT NO COST.

All other providers appear to be charging a minimum fee of $25.00 for the first year which will likely increase in future years.

We advise that the simplest way for any Fund that is receiving contributions on behalf of its members to comply with the SuperStream rules to have an ESA is to open a Macquarie Cash Management Account.

This must be done by the 28th May 2014 for members who are employees of a business with more than 20 employees.  All other Funds must be compliant by 1st July 2015.

Contact Rick Daquino at our office today on 03 9489 2154 to register your Fund for free.