Smarter SMSF updates at 1 July 2022

On 1 July each year, there are a number of changes that occur across the platform to various order forms, documents and course content.  This ensures that any orders you complete and the training that you obtain remains current and up-to-date with the ever-changing super and tax laws.

The following is a list of the changes that will take effect for the new 2022-23 financial year:

Ordering documents

ASIC fees

From 1 July 2022, Smarter SMSF has revised it's fees for company incorporations to reflect the ASIC fee indexation - you can read more about these changes in our related knowledge base article below:

ASIC fees from 1 July 2022

Order forms

  • The temporary 50% reduced minimum pension calculation has been updated through to 30 June 2023 within the pension commencement and annual pension review forms.
  • The above minimum pension election form has been updated to include the 2022-23 financial year as a result of the extended 50% reduced minimum pension relief.
  • The LRBA safe harbour interest rate has been updated to 5.35% for the 2022-23 year in accordance with the requirements set out in PCG 2016/5.

Document template updates

The following documents have been updated from 1 July 2022:

  • New SMSF Deed (version NSF-2022-07) - see the changelog for details of the amendments made to the deed.
  • New SMSF Product Disclosure Statement (PDS) - updates the various rates and thresholds for the 2022-23 financial year, along with information about various changes to the super & income tax laws.
  • Trust Deed Upgrade (version SDV-2022-07) - see the changelog for details of the amendments made to the deed
    • Following member feedback, we have now included templates of the binding & non-binding death benefit nomination forms for each member to complete as part of the generated order.
  • Trust Deed Upgrade Product Disclosure Statement (PDS) - updates the various rates and thresholds for the 2022-23 financial year, along with information about various changes to the super & income tax laws.
  • Lost Trust Deed (version: LTD-2022-07) - see the changelog for details of the amendments made to the deed.
  • Lost Trust Deed Upgrade Product Disclosure Statement (PDS) - updates the various rates and thresholds for the 2022-23 financial year, along with information about various changes to the super & income tax laws.
  • QROPS Deed (version QROPS-2022-07) - see the changelog for details of the amendments made to the deed.
  • QROPS Deed Product Disclosure Statement (PDS) - updates the various rates and thresholds for the 2022-23 financial year, along with information about various changes to the super & income tax laws.
  • Pension Commencement Product Disclosure Statement (PDS) - updates to the various rates & thresholds for the 2022-23 financial year.
  • Downsizer contributions - the generated documents have been updated to include the age eligibility change from 65 to 60 years of age.

Read the SMSF Deed changelog

Read previous member article, Deed impact of legislative changes for 1 July 2022

Please note that we will retain the work test & work test exemption order form documentation on the platform, however have added a note to advise that it is only relevant until 30 June 2022 as a result of the changes to the work test for voluntary contributions from the 2022-23 onward.

We look forward to sharing a number of new documents (and integration features) based upon member feedback in the near future.

New subscription fees

As previously indicated, from 1 July 2022 will see an increase in subscriptions across CPD and document packages - you can refer to our knowledge base article which explains these changes in further detail:

Subscription increases from 1 July 2022

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