Overview
Patricia Holdings makes setting up a Superannuation Trustee Company simple. This company type can be ordered online or by completing a manual order form and returning it to us by email.
This type of proprietary limited (Pty Ltd) company is registered with ASIC as a company whose sole purpose is to act as the trustee of a regulated superannuation fund. A reduced rate on the annual fee payable to ASIC is applicable to this type of company as long as the constitution:
- prohibits distribution of the company's income or property to its members; and
- specifies that the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.
SMSF’s are, as the name suggests, self-managed. This means that all eligible members of the super fund must be appointed directors of the trustee company. There is no requirement on who should be the members of the trustee company although best practice would be that all directors are also members.
If you would like to order a SMSF package which includes the trustee company and the superannuation trust deed for a discounted fee, you can order the package here.
What’s included?
- ASIC Certificate of Registration
- A complete and tailored suite of documents completing your company register, including:
- Company Constitution
- Members resolution on incorporation
- Directors resolution on incorporation
- Register of directors, secretaries & members
- Officeholder consents
- Members consents and applications
- Letter to the ATO appointing a public officer
- Allotment journal
- Share Certificates
- A helpful instruction letter
We also provide blank registers (including option & debenture holders) as well as meeting and consent templates to help you keep your register up to date.
If you order our full service courier delivered product you will receive your documents bound in a professional folder which includes indexed tabs separating the documents and 2 copies of your constitution (1 bound and 1 hole punched).
Pricing
| Online (Incl ASIC fee $597 & GST) | Offline (Incl ASIC fee $597 & GST) | |
|---|---|---|
PDF email delivery
|
$784 |
$916 |
Full Service Courier delivery
|
$938 |
$1,070 |
Optional Extras
|
||
Delivery Information
How long does it take to register a Superannuation Trustee Company?
Normally, ASIC will issue the ACN and Certificate of Registration within a few minutes.
How long until I receive my documents?
Through our website, these companies can be incorporated 24 hours a day, 7 days a week. Our "automatic” system typically incorporates a company via our direct link to ASIC and delivers the company register as a PDF by email in less than 10 minutes. If you would like us to manually review your company before incorporation, we aim to deliver your register by email within an hour of receipt of your order, during business hours.
We are able to deliver our full service couriered product to the Sydney metropolitan area within about 5 hours of receiving an order. Orders received before 12 midday are usually delivered the same day. Documents being sent to Brisbane and Melbourne will be sent by overnight courier or express post for next day delivery (order must be received by 2pm for delivery the next day), and within a couple of days to Perth and regional areas.
SMSF Trustee FAQs
What would be the point of having different classes of shares in a super trustee company?
A company can issue different classes of shares with the rights and restrictions attached to them relating to distributions, voting and receiving notice of meetings, distinguishing it from other classes. A super trustee company has several restrictions on it though which we believe would make issuing different classes of shares futile.
The company is not only prohibited from distributing it’s income or property to its members, it is only permitted to act as trustee of a regulated superannuation fund meaning it wouldn’t be holding any assets for the benefit of its members or deriving any income anyway. Decisions made by the company on behalf of the super fund are made by the trustees of the fund (the directors) in accordance with the Superannuation Industry (Supervision) Act 1993.
It is for these reasons that the Patricia Holdings Super Trustee Constitution only allows for ordinary or preference class shares to be issued at the time of registration. There is however a clause in the constitution that allows members to issue new classes of shares and vary their rights by way of special resolution as they see fit.
What is a Self-Managed Super Fund (SMSF)?
A self-managed superannuation fund is a trust structure that provides benefits to its members upon their retirement. The difference between a SMSF and other superannuation funds is that they are, as the name suggests, controlled by the members of the fund. That means the members are also the trustees running the fund for their own benefit. In the case or a corporate trustee, all eligible members of the fund must also be directors of the trustee company.
What happens to the assets of a Super Trustee Company on a winding-up?
All assets held by the company are being held for the benefit of the super fund. This means that on a winding up of the company, the assets would either be distributed to the members at their retirement, or they would be transferred over to a new trustee – this transfer could only be to a different trustee company, to the members in their capacity as individual trustees, or, to an industry super fund.
Can the Super Trustee Company’s capital and profits be distributed to the members?
The company may only act in the capacity of trustee of a regulated super fund. Any assets the company holds must be held for the benefit of the members of the super fund. The capital and profits of a super trustee company cannot be distributed to the members. This should be written in the company’s constitution in order for the company to be eligible for ASIC’s concessional annual review fees.
Can I use my own constitution to register a Superannuation Trustee Company with Patricia Holdings?
Of course you can. In order to meet ASIC’s eligibility requirements of a special purpose superannuation trustee company and take advantage of the reduced annual review fee, you will need to make sure that the constitution:
- prohibits distribution of the company’s income or property to its members; and
- specifies that the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.
Is a Superannuation Trustee Company considered an ASIC special purpose company?
Yes, the Patricia Holdings Superannuation Trustee Company is considered a special purpose company according to ASIC and is eligible for the reduced annual review fee.
The legal requirements for a special purpose superannuation trustee company are set out in section 3(f) of the Corporations (Review Fees) Regulations 2003 under the Corporations Act 2001 (Cth). The regulations state that the constitution:
- prohibits distribution of the company’s income or property to its members; and
- specifies that the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.
The Patricia Holdings Super Trustee Constitution complies with these regulations.
