From Monday 7 June 2010, the
Hybrid Trust order form will be upgraded to enable you to
order online. It will
no longer be necessary for you to complete a hard copy order form and fax to us,
saving you time, speeding up processing and removing the possibility of
transcription errors.
The order form will be of the same style and can be
completed in the same manner as the Unit Trust order form. You will be able to
save and later retrieve an unfinished order and a sample of the Deed can be
printed from the website.
We will also be introducing a
DIY Print presentation
at a lower price for those clients who want to receive only an electronic copy
of the documents. The Slimline and Full Register presentations will continue to
be available and no matter what presentation you choose, if you order online,
you will receive an email of the documentation as soon as your order is
processed.
New Wine Reward Program
Computerised Shelf Companies now offers a choice of two Reward Programs – the current frequent purchasers reward program and our new Wine Reward Program.
The Wine Reward Program rewards clients with gift packs of quality wine. When you pay an invoice for any Computerised product over the value of $100, you will be allocated 5 points to your wine points pool. Each time you accumulate 60 points, you will be eligible to receive a pack of half a dozen bottles of wine with our compliments. If you prefer, you can accumulate more than 60 points and redeem them against other choices of wine available on our website.
If you are currently a participant in CSC’s frequent purchasers reward program and you wish to change to the Wine Reward Program, any points currently in your points pool will be redeemed to the maximum allowable value against any outstanding invoices, immediately prior to you joining the Wine Reward Program. Any remaining points issued through the frequent purchasers reward program will be cancelled. They will not be converted to Wine Reward Points.
To find out more about the new Wine Reward Program, go to the menu item Rewards and click on the button, Click Here to View Details of our Wine Reward Program. You can then click on the link to read about the Wine Reward Program.
If you would like to join the new Wine Reward Program please phone us on 1300 856 972.
N.B. If you want to stay on the current frequent purchasers reward program you do not need to do anything. You will only be moved to the Wine Reward Program at your request.
Electronic Company Presentation
In response to numerous requests from clients, Computerised Shelf Companies now offers an electronic company presentation for a low
$532. Download and print only the documents you need and take advantage of our lowest price.
The Electronic Company package has the following features:
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All documentation, including the Certificate of Registration, despatched by email as soon as the company is registered. No waiting for any hard copy before management of the company can begin.
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As no hard copy is sent, documents on CD option is not available with this low cost presentation.
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Payment by credit card at the time of placing the order.
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You can still choose to have the company managed in Corpliance or request a BGL CAS or SOL 6 CRS company data file.
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Wine points and Frequent Purchasers Reward Points will not be issued when you purchase an Electronic Company Presentation.
Superannuation
Funds Can Now Borrow
Complete Package Available Now
Recent
changes to superannuation law mean that self managed superannuation funds
(SMSF) are now permitted to borrow money. New section 67(4A) of the Superannuation
Industry Supervision (SIS) Act allows SMSFs to borrow to invest in limited
circumstances.
The limits
are:
-
the borrowed money must be applied to
the acquisition of an asset
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the loan must be a limited recourse
loan, so the lender’s security is limited to the assets bought using the
loan and in particular doesn’t extend to other assets of the SMSF
-
the asset must not be an in-house
asset or other asset not permitted under the superannuation law eg a
loan to Member or property acquired from a Member
-
the asset must be held on
trust for the SMSF so that the SMSF has a beneficial interest in the
asset
-
The SMSF must have a right to
legally acquire the asset on payment of one or more instalments.
Other sections
of the SIS Act must still be complied with such as the sole-purpose test,
Investment Strategy requirements, related-party acquisition rules,
in-house asset rules, prohibition against charging and arm’s length
dealing requirements.
The changes
mean that funds now have effectively far greater ability to grow their
assets at a time when strict limits are imposed on making both deducted
and undeducted contributions.
A
superannuation fund, for example, can buy real estate. Previously a
fund may not have had sufficient funds to do this however using money the
fund has, as a deposit, the fund can then borrow the balance needed.
The fund could borrow the money from a third party. Alternatively the fund
could borrow from a related party. For example, it could borrow from
the Member (or a related party) who has funds that the Member could lend
to the superannuation fund therefore enabling the capital appreciation of
the asset to be taxed at concession rates in the fund (or not taxed at all
if the fund is in pension phase).
A Member could
use their own funds or borrow from the bank. The Member would then lend
the money to the fund at an interest rate. The growth in value of the
asset that has been purchased will be in the superannuation fund and
concessionally taxed, if taxed at all.
The asset that
is being purchased that will be beneficially owned by the superannuation
fund must stand in the name of a Trustee of a trust that holds the asset
on behalf of the superannuation fund. The asset cannot be held in the name
of the superannuation fund and must be held by separate Trustees for the
Trustees of the superannuation fund.
We have had our lawyers prepare a complete set of documents including
Trust deed/Loan Agreement and Minutes of Meeting to assist accountants who want
to take advantage of the new legislation.
The
documents are suitable only where the lender (and the other parties to the
documentation) are willing to use the loan agreement (and other documentation)
that is included. A lender who is in the business of lending money usually
requires their own documentation and is likely to have rules and requirements
as to payment of fees and interest and other requirements before lending. You
should not use this service without the lender’s agreement to accept these
documents.
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You should consider taking independent advice from the holder of an
AFS licence before making a decision on any financial product and before making
any financial decisions including advice as to the cost of borrowing from a
third party lender compared with the costs of borrowing from a member of the
fund or other associated person or entity.
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We are not licensed to provide financial product advice;
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Taxation is only one of the matters that must be considered when
making a decision on a financial product.
Click HERE
to view a sample of the Deed.
Click HERE to
read ATO questions and answers - Instalment warrants and super funds
Click HERE to
read Taxpayer Alert TA 2008/5
Privacy Amendment (Private Sector) Act 2000
The Privacy Amendment (Private Sector) Act 2000 establishes a national scheme
for the
handling of personal information by private sector organisations. The
legislation comes into effect on 21 December 2001. Read our
Privacy Statement.
To learn more about Computerised’s No Nonsense, Economical services and how they
can save you time and money,
telephone today on 1300 856 972.
