|Cessation of Member||$250 (per member ceasing)|
|* Add $100 for hard copy
Pricing includes GST
When a member exits an SMSF, special rules apply including that the member must be provided with certain information to understand their benefit entitlements in the SMSF. This documentation suite is designed to ease the compliance burden when a member exits an SMSF.
- Covering letter
- Trustee resolutions
- Periodic statement
- Exit disclosure statement
If a fund has individual trustees; a change of trustee will also be required. The trustee structure should be amended after the cessation of member. For more information on the change of trustee, click here.
If you are changing members in an SMSF, you should also consider the advantages of a corporate trustee over individual trustees. The long-term benefits of a company generally far outweigh the up-front cost of incorporation. Some of the main advantages include asset protection; continuous succession; and far greater administrative ease. For more information click here.
If the fund has a corporate trustee, additional documentation is required to resign the person as a director. We can assist with this documentation if required.
Significant penalties can be imposed if the trustee/member rules are not complied with. Accordingly, expert assistance should be obtained if there is any doubt.