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SMSF Fund Name

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Mark., 26th Dec, 2011.

  1. Mark.

    Mark. Learning fast

    Joined:
    26th Dec, 2011
    Posts:
    3
    Location:
    Sydney, NSW
    Hi,

    I've just set up my SMSF using esuperfund. One thing that puzzles me slightly is the name of the fund. In all the esuperfund generated doco (eg, the Trust Deed), the fund is called "MYNAME SUPERFUND". In the ATO doco and the ABN Lookup, the fund is called "THE TRUSTEE FOR MYNAME SUPERFUND". Does this sound right? I'm using a corporate trustee.

    Thanks.
     
  2. jorgon

    jorgon Active Member

    Joined:
    28th May, 2011
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    Location:
    Brisbane
    Hi Mark

    This is quite normal and is because your fund is not actually a legal entity. In other words it cannot itself hold assets nor can it sue or be sued. This is why it must operate through a trustee or trustees (a corporate trustee, or two or more human trustees).

    All the fund's assets are held by the trustee(s) and the ATO will expect tax to be paid by the trustee(s). And the ABN is an indentifier for the legal entity.
     
  3. Fiat Lux

    Fiat Lux New Member

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    10th Apr, 2015
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    Location:
    Sydney, NSW
    SMSF Name from ATO

    I have a similar question. I understand that the fund itself (ABC SUPERFUND) is not a legal entity, but when the ATO calls the fund "THE TRUSTEE FOR ABC SUPERFUND" are they "renaming" the fund, referring to the corporate trustee (ABC PTY LTD) or is it simply a form of salutation? I thought the Trustee for ABC SUPERFUND was (in my case) ABC PTY LTD since I have established a corporate trustee?

    I note that the Corporate Trustee has an ACN and that the Superfund has been issued with an ABN and a TFN.
     
  4. Terryw

    Terryw Well-Known Member

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    9th Jun, 2006
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    Location:
    Sydney
    A trust is not a legal entity, but a trustee is. So that is why the ATO use this format I guess.