Change of Trustee Implementation

Once there has been a change in the trustees of an SMSF, the Australian Taxation Office (“ATO”) requires all fund assets to be held in the name of the new trustee, including all individual trustees. Accordingly in order to avoid penalties or other sanctions from the ATO, it is necessary to update the title records of the Fund’s assets (including land, shares and securities) as soon as practicable after the change of trustee has been effected.

 

We offer an unmatched end-to-end service to transfer real property owned by the Fund from the retiring trustee(s) to the new trustee(s), starting with the preparation of the necessary transfer and duty assessment documents and ending with the delivery of the certificate of title (or equivalent) to you showing the new trustee(s) as the new registered proprietor(s) of the property on title.

 

Our fee for the above service is $880.00 inclusive of GST (plus disbursements), and is payable in two instalments. Please note further fees will apply if the Fund owns more than one property or the property is located in Queensland.

 

Please note that this service does not include preparation of the documentation necessary to change the trustee(s) of the Fund.  Should you require those documents please order our SMSF Change of Trustee documents package.