• JCMB Consulting

    Self-managed Superannuation Fund Audit and Consulting Services

     

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  • JCMB Consulting

    Trusted, Experienced, Professional - Superannuation Services in Inverloch

     

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With the use of lots of acronyms and references to legislation, superannuation can certainly sound like a different language.  I will use this segment for the next few months to try to explain some of these terms in simple English.

 

Related Party

There are restrictions on the way your fund can deal with related parties. A 'related party' of your fund includes:

  • all members of your fund

  • associates of fund members, which include

    • the relatives of each member

    • the business partners of each member

    • any spouse or child of those business partners

    • any company the member or their associates control or influence

    • any trust the member or their associates control.

 

  • standard employer–sponsors, which are employers who contribute to your super fund for the benefit of a member, under an arrangement between the employer and a trustee of your fund

  • associates of standard employer–sponsors, which include

    • business partners and companies or trusts the employer controls (either alone or with their other associates)

    • companies and trusts that control the employer.

 

A relative of a member means any of the following:

  • a parent, grandparent, brother, sister, uncle, aunt, nephew, niece, lineal descendant or adopted child of the member or their spouse

  • a spouse of any individual specified above.

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JCMB Consulting Pty Ltd
PO Box 480, Inverloch, VIC 3996


 
ABN 86 768 265 615
Michele Beattie – Principal


C.A., B. Commerce (Melb), Approved SMSF Auditor / SMSF AUDITOR NUMBER - 100 087 330


Liability limited by a scheme approved under Professional Standards Legislation

Michele Beattie is an Authorised Representative No. 001242630 of the SMSF Advisers Network Pty Ltd - ABN 64 155 907 681
An Australian Financial Services Licensee - AFSL No 430062 - http://www.smsfadvisersnetwork.com.au
JCMB Consulting is a Corporate Authorised Representative No. 001242634