The New Tax System Instructions for Superannuation Entities
These instructions cover registration for
Australian Business Number
and
Goods and services tax
including
Notification of election and/or establishment under the Superannuation Industry (Supervision) Act 1993
and also contain a
Checklist for completing the application.
Australian Taxation Office
The information requested in this application is required for business registration purposes under the following acts: A New Tax System (Australian Business Number) Act 1999
A New Tax System (Goods and Services Tax) Act 1999 Superannuation Industry (Supervision) Act 1993
Checklist
for completing the application
Before completing your application:
Read the instructions. Note the time you start working on the application.
You will be asked to record the time taken to complete the application. This includes the time taken to do calculations and obtain information.
After completing the application:
If the superannuation fund is to be regulated under the Superannuation Industry (Supervision) Act 1993, sign the notice of election at question 28. Sign the declaration. Record the time taken to complete the application.
This includes the time taken to do calculations and obtain information.
Make sure that you have completed Attachment A, providing details of organisations and individuals associated with the entity.
Return the completed application:
by mail * The Registrar Australian Business Registry Australian Taxation Office PO Box 627 Hurstville NSW 1481
Phone
( 13 24 78 (1300 130 478 for hearing impaired people) or e-mail
Need help?
: gstmail@ato.gov.au
How to complete the application
Print clearly, using a black pen only. Use BLOCK LETTERS and print one character per box.
S M I T H S T
If typing or using a laser printer, you can type over the boxes using UPPER CASE only.
SMITH STREET
Place an X
in all relevant boxes. B
If you make a mistake, place a diagonal line through the box. Do not use correction fluid.
For the e-mail address, use BLOCK LETTERS and print one character per box.
J . J O N E S @ T R E K . C O M . A U
For the website address, print it exactly as it appears on the website using UPPER and lower case as necessary.
w w w .O t m a n .c o m . a u
Do not use pins or staples to attach any extra details you may provide.
If the application contains errors it may delay the registration.
Instructions for Superannuation Entities
This booklet is for superannuation entities who have not been registered with the Australian Taxation Office (ATO) and want to register for The New Tax System. This booklet will also allow entities to register for their obligations under the Superannuation Industry (Supervision) Act 1993 (SIS Act).
What is The New Tax System? The New Tax System will be introduced from 1 July 2000 and will change the way tax is collected in Australia. It replaces some of the existing taxes and payment methods such as Sales Tax, Pay As You Earn, Prescribed Payments System and Reportable Payments System with a Goods and Services Tax (GST) and a Pay As You Go (PAYG) withholding system. The New Tax System also puts in place an Australian Business Number (ABN) that will enable businesses in Australia to deal with a range of government departments and agencies using the one number. You will need to show your ABN on your tax invoices so that your customers can claim input tax credits. If you do not quote your ABN to people to whom you supply goods and services, they will be required to withhold tax from payments to you. Your ABN will not replace your tax file number, so your tax file information will still be protected by the existing privacy guidelines. When you receive your ABN you will be placed on the Australian Business Register. The Registrar (the Commissioner of Taxation) will administer this register. The New Tax System also puts in place a number of new business accounts such as wine equalisation tax and luxury car tax. You must provide proof of identity When you lodge the application you must provide proof of identity before the fund or trust can be registered. You can do this by quoting the tax file number of the entity or of organisations and individuals associated with it. If you do not quote a tax file number, the application may take longer to process. You will need to provide details of the fund or trust to verify its identity. This detail, including the tax file number for each associated organisation or individual, can be provided in Attachment A. This application will allow you to apply for a tax file number for the fund or trust. If you want to apply for a tax file number for the fund or trust as part of this application, you should provide either the tax file number of all associated organisations or individuals or the following details to assist in identifying them: family name, given names, residential address, date of birth, sex and relationship to the fund or trust. A tax file number will be issued as part of the registration process. When does the application have to be lodged? To be registered at 1 July 2000 you must have completed this application and have mailed it back to the Registrar by 31 May 2000. If you want to register after 1 July 2000, you will need to have completed and mailed this application back to the Registrar no later than 21 days after the fund or trust comes into existence. If you have not mailed the completed application to the Registrar by 31 May 2000, registration of the fund or trust may not be finalised until after 1 July 2000. What is the notice of election under the Superannuation Industry (Supervision) Act 1993? To become a complying superannuation fund, the trustee must give a notice of election to become a regulated superannuation fund under section 19 of the Superannuation Industry (Supervision) Act 1993 (SIS Act) within 60 days after the superannuation fund comes into existence. A complying superannuation fund is eligible for tax concessions. Completion and lodgment of this application in the prescribed time will satisfy this requirement. The requirement for regulated superannuation funds to lodge certain establishment information is also met by completing this application. Approved deposit funds and pooled superannuation trusts do not have to elect to be regulated but they must provide establishment information. The Australian Taxation Office (ATO) will provide the election/establishment information to the Australian Prudential Regulation Authority (APRA) for superannuation funds that will be regulated by APRA. What is the notice of establishment under the Superannuation Industry (Supervision) Act 1993? The trustee of a newly established approved deposit fund (ADF) or pooled superannuation trust (PST) must provide prescribed information in accordance with the SIS Act and Regulations within 7 days of coming into existence. Completion and lodgment of this application in the prescribed time will satisfy this requirement. The ATO will provide the prescribed information to APRA as ADFs and PSTs are regulated by APRA.
Instructions for Superannuation Entities
How long did you take to complete your application? Please provide the amount of time you take to complete the application. This includes the time taken to fill in the application and to do calculations and obtain information.
When completing the application, please make sure that all of the information provided is accurate and complete.
Applicant information Questions 1 to 6 deal with identifying the fund or trust
1 Are you applying to be registered as: 2 Type of fund
Place an X in one box only. A regulated self-managed superannuation fund (SMSF) This is a superannuation fund that is regulated by the ATO. For funds other than single member funds, an SMSF is one where: there are fewer than 5 members all members are trustees, or directors of the trustee company there are no trustees or directors who are not members, and there are no members who are employees of other members (unless they are relatives). For funds that are single member funds, an SMSF is one where: if the fund has a corporate trustee: the member must be the sole director of the company, or the member must be one of only two directors where the other director is a relative, or the member must be one of only two directors and not an employee of the other director, or if the fund does not have a corporate trustee: the member must be one of only two individual trustees and the other trustee must be a relative, or the member must be one of only two individual trustees and not an employee of the other trustee. There are some exceptions to these general rules. For full details of the definition refer to Section 17A of the SIS Act. An APRA-regulated superannuation fund (ARF) This is a superannuation fund that is regulated by APRA (that is, all regulated superannuation funds that are not SMSFs). A non-regulated superannuation fund (NRF) This is a superannuation fund that does not satisfy the provisions of section 19 of the SIS Act, that is, the fund has not made an election to become a regulated superannuation fund and is not intending to make such an election using this application. Exempt public sector funds not intending to elect to be regulated should cross this box. A pooled superannuation trust (PST) This is a resident unit trust regulated by APRA. A PST is used for investing assets of a number of superannuation funds or approved deposit funds, other PSTs and certain other specified entities. An approved deposit fund (ADF) This is a fund that is regulated by APRA. An ADF can receive eligible termination payments rolled over from a previous employer or superannuation fund or approved deposit fund.
Place an X in one box only. If this is an application to be an APRA-regulated superannuation fund (according to the box crossed at question 1), this question must be completed. Public offer fund This type of superannuation fund can be joined by members of the public. It is a regulated fund consisting of pooled superannuation sold commercially, for example, through life companies, bank subsidiaries or financial planners. This category includes master trusts (where a large number of unconnected individuals or companies operate their superannuation arrangements under a single common trust deed) and personal superannuation products. Non-public offer fund This is a superannuation fund with more than four members and with membership limited to employees of an employer or group of employers. Public sector fund This is a superannuation fund that forms part of a public sector superannuation scheme. Public sector superannuation scheme This is a superannuation scheme that is established by or under: a law of the Commonwealth, State or Territory, or the authority of the Commonwealth, State or Territory governments, or the authority of a municipal corporation, a local governing body or public authority constituted under a Commonwealth, State or Territory law. Small APRA fund This is a superannuation fund with fewer than five members that has an approved trustee under Part 2 of the SIS Act. Funds with fewer than five members that do not meet this description, and also do not meet the definition of a self-managed superannuation fund, are strongly advised not to make an election to become a regulated superannuation fund. The trustees of such a fund would be at risk that APRA would appoint a replacement trustee.
Applicant information continued Questions 1 to 6 deal with identifying the fund or trust
3 Does the fund or trust have a tax file number? the fund or trust has at least one active member and the total of accumulated entitlements of resident active members at the relevant time are 50% or more of the total of accumulated entitlements of all active members. An active member is someone who has made contributions to the fund or trust, or someone for whom contributions to the fund or trust have been made in the year of income. An ADF is a resident ADF at a particular time if: either the fund or trust was established in Australia or any asset of the fund or trust is situated in Australia the central management and control of the fund or trust is in Australia, and the accumulated entitlements of resident members are 50% or more of total assets of the fund or trust. A fund or trust may be complying for the SIS Act only if it is a resident fund or trust at all times throughout the income year. 5 What is the legal name of the fund or trust?
Show the tax file number of the fund or trust in the boxes provided. It is not an offence if you do not quote a tax file number, but it will mean that there will be delays in the Registrar correctly identifying the fund or trust. If you answer No to this question, you must identify whether you want to apply for a tax file number for the fund or trust as part of this application. If you are applying for a tax file number as part of this application you must complete Attachment A. You are required to provide either the tax file numbers of all organisations and individuals associated with the fund or trust, or the following details to assist in identifying them: family name, given names, residential address, date of birth, sex and relationship to the fund or trust. The Commissioner may issue a tax file number whenever it is necessary to do so under a Commonwealth taxation law. If you do quote the tax file number of the fund or trust, the tax file information will still be protected by existing privacy guidelines. 4 Is the fund or trust resident in Australia?
This should be the name of the fund or trust that appears in the trust deed or governing rules. Unless the name of the fund or trust changes at a later date, it should continue to be written in the same manner as shown in the trust deed or governing rules when dealing with the ATO. 6 What is the other name of the fund or trust (if applicable)?
Place an X in the appropriate box. A superannuation fund is a resident fund or trust at a particular time if: either the fund or trust was established in Australia or any asset of the fund or trust is situated in Australia the central management and control of the fund or trust is in Australia, and
This is the name by which the fund or trust is commonly known. It may differ from the legal name of the fund or trust as advised at question 5.
Contact details Questions 7 to 12 deal with how the fund or trust wishes to be contacted
7 What is the postal address for service of notices and correspondence? 11 What is the main business address of the fund or trust? This is the physical street address of the fund or trust. It may be different from the postal address. This address cannot be a post office box number. Please note that complying funds or trusts do not carry on a business. The provision of this information will not mean that the fund or trust has failed to meet the sole purpose test under the SIS Act. 12 Who is the authorised contact person for the fund or trust? The person nominated as a contact must be able to deal with any issues that may arise regarding the ABN of the fund or trust, its business accounts and matters relating to the SIS Act. This person must be authorised to make alterations or updates on behalf of the fund or trust. This may be you or a person authorised by you. Please show the name, position held, mobile, phone and fax numbers (including STD or ISD codes) and e-mail address of a person who may be contacted regarding any of these issues. If the fund or trust is using a tax agent as the contact, please provide the tax agents registration number in the space provided. If you have quoted a tax agent registration number at question 10, you must quote the same number here. Phone Please provide a business hours phone number for contact, or an after hours or mobile phone number. E-mail Please use BLOCK LETTERS and print one character per box when completing this question. J . J O N E S @ T R E K . C O M . A U
The address that you provide here will be used by government departments and agencies to contact the fund or trust by mail. This may include important legal notices including those under the SIS Act. This will be the address that the Business Activity Statement will be sent to. This can be the address of the tax agent of the fund or trust. Please make sure that the address you nominate is the most appropriate address for receiving this type of mail. 8 Does the fund or trust want to use the Australian Taxation Offices internet-based e-commerce system?
Place an X in the appropriate box. If the annual turnover of the fund or trust at question 21 is $20 million or more, you must answer YES to this question. If the annual turnover of the fund or trust is less than $20 million, you can still deal with the ATO via the e-commerce system by answering YES to this question. What is the e-mail address for service of notices and correspondence? If you would like to have notices and correspondence sent to the e-mail address, please provide the full e-mail address here. This is the e-mail address where you will be notified that Business Activity Statements are available electronically. Please use BLOCK LETTERS and print one character per box when completing this question. Example J . J O N E S @ T R E K . C O M . A U If the annual turnover at question 21 is $20 million or more, you must provide an e-mail address here. 10 Have you provided the postal or e-mail address of the funds tax agent at questions 7 or 9? Place an X in the appropriate box. If a tax agent handles all the notices and correspondence for the fund or trust, please write the tax agents registration number here. You can obtain this number from the tax agent. 9
Preferred language If you have difficulty communicating in English, please indicate your preferred language. If you are hearing impaired and want to use the TTY service, please print TTY in the boxes as your preferred language.
Fund or trust activity details Questions 13 to 16 deal with information that will allow us to categorise the fund or trust for statistical purposes
13 On what date did the fund or trust come into existence? This is generally the date the trust deed or governing rules came into effect. The date is shown on the governing constituent document. However, if the fund or trust did not acquire assets or income (including a settled sum) until a date later than that shown in the document, you should use the later date or provide the date on which the first contribution was made to the fund or trust. 14 Does the fund or trust have more than one business location in Australia? Place an X in the appropriate box. A location is the continuous physical area or site at which, or from which, the fund or trust engages in productive activity on a relatively permanent basis. Please note that complying funds or trusts do not carry on a business. The provision of this information will not mean that the fund or trust has failed to meet the sole purpose test under the SIS Act. 15 In which State or Territory does the fund or trust have a business location? Place an X in all boxes that apply. Please note that complying funds or trusts do not carry on a business. The provision of this information will not mean that the fund or trust has failed to meet the sole purpose test under the SIS Act. 16 Is the fund or trust owned or controlled by Commonwealth, State, Territory or Local Government? Place an X in the appropriate box. This question deals with effective control by Commonwealth, State, Territory or Local Government. Effective control can be exercised through majority ownership of voting shares, through specific legislation, or by way of a particular administrative arrangement. Government control refers to a government departments ability to influence the operations of the fund or trust in a way that is more effective and direct than the exercise of general legislative or regulatory powers over the electorate at large.
Taxation information Questions 17 to 19 deal with information required for the new business accounts of the fund or trust
17 What are the financial institution account details of the fund or trust for ATO refunds? If the fund or trust is entitled to a tax refund, the ATO will pay this directly to a nominated Australian bank or financial institution account. If you do not quote the Australian bank or financial institution details, the fund or trust may not receive its refund. If you are not sure of the actual details to be provided here, please contact the bank or financial institution used by the fund or trust. 18 Is the fund or trust required to register for goods and services tax (GST)? Place an X in the appropriate box. The fund or trust is required to register for GST if its annual turnover at question 21 is $50 000 or more ($100 000 or more if it is non-profit). The fund or trust is also required to register if it supplies taxi or limousine travel for fares. If you are not sure whether this applies to the fund or trust, see Part 3 of the Guide to Registering for The New Tax System. 19 If the fund or trust is not required to register for GST, does it want to apply for voluntary registration? Place an X in the appropriate box. If the fund or trust is not required to register for GST at question 18, you still can choose to register it by answering YES to this question. If you choose to register the fund or trust for GST, it must stay registered for a minimum of 12 months. Will the fund or trust still receive an ABN if it is not required to register for GST? The New Tax System puts in place the ABN to enable businesses in Australia, including superannuation entities, to deal with a range of government agencies using the one number. In the future the ABN will become the sole public identifier number for all superannuation entities. If the fund or trust is not required to register for GST, and chooses not to voluntarily register, it will still be issued with an ABN on completion of the application.
Goods and services tax Questions 20 to 27 deal with information about the GST activities of the fund or trust
20 On what date did, or will, the fund or trust become eligible to claim input tax credits? An input tax credit is the amount of GST paid on a supply that has been acquired by the fund or trust for business purposes. This date will be the date the fund or trust first entered into a transaction where GST was imposed on business supplies acquired and it intends to claim the input tax credit. This will be the date that registration for GST should begin. The date should be written in the following format dd/mm/yyyy. 21 What is the annual turnover of the fund or trust? Place an X in the appropriate box. GST uses annual turnover to determine a number of threshold events. For details of how to work out the annual turnover of the fund or trust, see Part 3 of the Guide to Registering for The New Tax System. If the annual turnover is $20 million or more, the fund or trust is required to lodge its Business Activity Statement electronically. Please make sure you have provided an e-mail address at question 9. 22 If the annual turnover of the fund or trust is less than $20 million, do you want to lodge its Business Activity Statement monthly? Place an X in the appropriate box. If the annual turnover selected at question 21 is less than $20 million, the fund or trust can choose to lodge monthly. 23 How will the fund or trust account for GST? Place an X in the appropriate box. The fund or trust can choose to use a cash basis of accounting for GST purposes if its annual turnover at question 21 is: $1 million or less, or more than $1 million and it is properly accounting on a cash basis for income tax purposes. If the fund or trust has a turnover of more than $1 million, does not account on a cash basis for income tax purposes and wishes to account for GST on a cash basis, contact the ATO. 24 Does the fund or trust provide goods or services to business? Place an X in the appropriate box. If you answer YES to this question, indicate what estimated percentage of transactions, based on value, the fund or trust will provide to business. Example If the fund or trust has estimated total sales of $500 000 and the estimated sales to business are $25 000, the percentage will be $25 000/$500 000 = 5%. 25 Does the fund or trust provide goods or services using the internet? Place an X in the appropriate box. If you answer YES to this question, indicate what estimated percentage of transactions, based on value, the fund or trust will provide using the internet. Example If the fund or trust has estimated total sales of $750 000 and the estimated sales via the internet are $600 000, the percentage will be $600 000/$750 000 = 80%. If you answer YES to this question, you will also need to provide the website address of the fund or trust. Please print this as it appears on the website, using UPPER and lower case as necessary. Example
www.Otman.com.au
26 Does the fund or trust import goods or services? Place an X in the appropriate box. If you answer YES to this question, please provide the Customs owner code for the fund or trust if it has one. 27 Does the fund or trust export goods or services? Place an X in the appropriate box.
Notice of election for superannuation funds Question 28 deals with the election that superannuation funds make under the Superannuation Industry (Supervision) Act 1993
The trustee(s) of the superannuation fund must complete this notice of election if the fund is to be regulated under the SIS Act and be eligible for tax concessions. If the notice of election is not completed correctly, the election may be invalid and the superannuation fund may not be regulated and eligible for tax concessions. Indicate whether: the governing rules of the fund provide that the sole or primary purpose of the fund is the provision of old age pensions (Regulation is on the basis of the pensions power under the Constitution. However, if the governing rules also provide that the fund trustee is a constitutional corporation, the fund may also be regulated under the corporations power), and/or the fund trustee is a constitutional corporation pursuant to a requirement in the governing rules. (Regulation is on the basis of the corporations power under the Constitution). PENSIONS POWER ONLY If the trustee is not a corporation, each individual trustee of the fund must sign under the pensions power. Attach additional pages if there is insufficient space. CORPORATE TRUSTEES ONLY If the trustee is a corporation, the notice must be signed in a way that is effective in law and binds the corporate trustee. The corporate trustees common or official seal must be used in making the election. However, the common seal requirement will be removed after the Financial Sector Reform (Amendments and Transitional Provisions) Bill (No. 2) 1999 receives Royal Assent. The seal will only then need to be used if it is otherwise necessary to bind the body corporate (for example, if the trustees Articles of Association require it). A superannuation fund that chooses not to be regulated, an approved deposit fund or a pooled superannuation trust should not complete the notice of election.
Declaration
Once you have completed the application you are required to read the declaration. The declaration applies to all superannuation funds, approved deposit funds and pooled superannuation trusts. Declaration block Part of the declaration asks you to declare that the superannuation entity is carrying on an enterprise. Superannuation entities are considered to be carrying on an enterprise for this purpose. When you are satisfied that all of the information provided in the application is accurate and complete, please sign and date the declaration. The declaration must be signed by one of the following persons (or a person authorised by them): trustee of the fund or trust director or secretary of the corporate trustee.
Penalties may be imposed for giving false or misleading information.
Actual time taken to complete this application
Please write in the amount of time you spent (in minutes) completing the application. This includes the time spent filling in the application and doing calculations and obtaining information.
Attachment A
Details of organisations and individuals associated with the applicant
This attachment collects information about corporate and individual trustees for all funds and trusts. It also collects information about members of self-managed superannuation funds. Corporate trustee If the trustee is a constitutional corporation, the trustees legal name and tax file number should be provided here. If the corporate trustee chooses not to disclose their tax file number, they must attach their business address, the date they commenced, registered or became incorporated, and, if applicable, their ACN or ARBN to the application. Members of self-managed superannuation funds and/or fund individual trustees All funds must provide individual trustee details where the fund does not have a corporate trustee. If the application is for a self-managed superannuation fund, details of each member of the fund are also required. Where the members are also trustees of the self-managed superannuation fund, both relationship boxes should be completed. Where the members are not trustees, or the trustees are not members, cross the appropriate box.
Publicly available material and your privacy
The Registrar will make available certain information from the Australian Business Register to the public. For details of the information that will be publicly available, see Publicly available material and your privacy in Part 2 of the Guide to Registering for The New Tax System. The remainder of the information provided will not be made available to the public. Some of this information may be provided to other government agencies authorised by law to receive it, including the Australian Taxation Office (ATO), the Australian Bureau of Statistics (ABS) the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).
Phone
( 13 24 78 (1300 130 478 for hearing impaired people) or e-mail
Need help?
: gstmail@ato.gov.au
NAT 2945-11.1999