Why change SMSF Name?
If the SMSF name doesn’t really do anything why change it? It is not registered anywhere. It is just a nickname to help the Accountant, who may be looking after 100s of other SMSFs, identify mine a bit quicker? Why change SMSF Name?
1. correcting spelling errors (e.g. Smitth Super Fund)
2. your husband has died (e.g. Coral & Ted Smith Superannuation Fund)
3. your spouse has divorced you (e.g. Joanne and John Lee Super Fund)
4. your name is not as clever as you first thought (e.g. Scrooge McDuck Super Fund)
5. your name may upset the ATO (e.g. Get out of Tax Superannuation Fund)
6. your parents may have died and you now want to remove their names from the Superannuation fund
There are no taxation issues when you update the SMSF name. With every document, you build on our website you get a letter on our law firm’s letterhead. The letter confirms there are no taxation issues when you correct the SMSF name.
The Australian Taxation Office (ATO) regulates Self-Managed Superannuation Funds. You need to let the ATO know within 28 days of changing your Superannuation Fund’s name. Our covering letter that you get with the Deed to update your SMSF Name has a link to the form that the ATO requires you to complete.
The Change SMSF Name includes:
1. Trustee resolutions
2. Deed of change of SMSF name
3. Notification of change of SMSF name
4. On our legal practice’s letterhead other relevant information including link to the ATO form
Telephone us, we can help you answer the questions to change the name of your SMSF.
Adj Professor, Dr Brett Davies, CTA, AIAMA, BJuris, LLB, Dip Ed, BArts(Hons), LLM, MBA, SJD
Legal Consolidated Barristers and Solicitors
National Australian law firm
National: 1800 141 612
Mobile: 0477 796 959
Email: [email protected]