The MGS Self Managed Superannuation Fund comes with a comprehensive 11-kit compliance document suite — covering every major SMSF lifecycle event from commencement to death benefit payment, including the new Division 296 Tax obligations from 1 July 2025.
The MGS SMSF deed has been continuously maintained and updated since 1999 — incorporating every major legislative change, ATO ruling and regulatory development. It is one of Australia's most comprehensive and widely used SMSF deeds, trusted by accounting, legal and financial planning firms nationwide.
Each deed is prepared to the client's specific requirements — individual or corporate trustee, any number of members up to six. The deed reflects the current SIS Act, SIS Regulations, ITAA 1997 and all ATO rulings, including the Division 296 amendments effective 1 July 2025.
The deed accommodates both individual trustees (minimum two) and corporate trustee structures (sole director permitted for single-member funds). Corporate trustees provide greater asset protection and simplified succession planning.
The deed provides the Trustee with the widest possible investment powers permitted under the SIS Act — including listed shares, direct property, managed funds, LRBAs, derivatives, private company shares, and cryptocurrency (where appropriate).
Account-based pensions, transition-to-retirement income streams, and reversionary pension nominations are all supported. The deed is fully compatible with Transfer Balance Cap requirements and TBAR reporting obligations.
The MGS SMSF deed expressly permits non-lapsing Binding Death Benefit Nominations — eliminating the risk of a BDBN lapsing through inaction. Also supports reversionary pension nominations and trustee discretion provisions aligned with the member's wishes.
The deed expressly authorises Limited Recourse Borrowing Arrangements — essential for SMSF property acquisitions and other leveraged investments. Compatible with both bank and related-party LRBA structures (subject to arm's-length requirements).
The deed and the 11-kit compliance suite have been updated to address the Division 296 Tax regime effective from 1 July 2025 — including CGT Cost Base Reset Election powers, member release authority and the full 8-document D296 Kit.
MGS monitors legislative changes, ATO rulings, APRA guidance and court decisions affecting SMSFs on an ongoing basis. The deed and compliance suite are updated whenever required to maintain currency — subscribers receive updates automatically.
Every deed comes with a comprehensive explanatory memorandum covering the SIS Act framework, trustee duties, contribution rules, investment restrictions, pension requirements, tax obligations and the Division 296 Tax regime — written for trustees and advisers.
Every MGS SMSF deed includes the complete compliance document suite below — 11 kits covering every major SMSF lifecycle event. Each kit contains professionally drafted resolutions, registers, checklists and member-facing forms, ready for immediate use.
8 documents. Trustee acknowledgement, CGT Cost Base Reset Election, register, annual resolutions, member notices, release requests and compliance checklist.
6 documents. Pension commencement, minimum payment schedules, TBC notification, annual reviews and commutation resolutions.
Written investment strategy resolution — risk, return, diversification, liquidity, insurance and Division 296 position for each member.
Trustee resolutions and member authorities for accepting rollovers — SuperStream, tax component recording and MATS reporting.
Rollover payment resolutions, Rollover Benefit Statement preparation and full or partial member exit procedures.
Commutation to accumulation resolutions and member requests — for TBC management and Division 296 Tax planning.
TTRIS commencement and management — 10% drawdown cap, 15% earnings tax and conversion to full ABP on retirement.
Non-lapsing and lapsing BDBNs, revocation forms and a triennial review checklist for every member.
Member death resolutions, BDBN status determination, claimant forms and Division 296 Tax provision before release.
Year-end compliance checklist and annual general resolution — contributions, TBC, pension minimums and regulatory compliance.
Contribution acceptance resolutions, cap monitoring and guidance on downsizer, carry-forward and spouse contributions.
Division 296 is the most significant change to superannuation taxation in a generation. It imposes a tiered additional tax on superannuation earnings for individuals with a Total Superannuation Balance exceeding $3 million — assessed against the member personally, not the fund. The D296 Kit provides every document needed to manage this obligation from the first year.
CGT Cost Base Reset Election — once only, irrevocable. For the 2025–26 income year only, trustees may elect to reset all Fund CGT asset cost bases to their 30 June 2025 market values. This must be lodged before the due date of the Fund's 2025–26 income tax return. There is no second opportunity. Market valuations must be obtained now.
Records the Trustee's acknowledgement of Division 296 obligations, instructs the adviser on required actions and authorises all necessary elections and lodgments.
Irrevocable election under s296.50 to reset all Fund CGT asset cost bases to market value at 30 June 2025. Includes Schedule A asset register and valuation method table.
Ongoing register required by s296.55 — maintaining separate Division 296 and general income tax cost bases for all Fund CGT assets from 2025–26 onwards.
Annual resolution covering fund earnings determination, member TSB attribution, tiered tax calculation and payment method election — reusable each income year.
Notifies each member of their ATO assessment and records their election — personal payment, release from Fund, or partial release — within the 84-day window.
Formal member application and Trustee approval resolution to release benefits from the Fund directly to the ATO in satisfaction of the Division 296 Tax liability.
7-section pre/post year-end checklist for the Trustee and adviser — covering all Division 296 obligations with adviser sign-off, reusable each income year.
Annual resolution reviewing the Fund's investment strategy having regard to each member's Division 296 Tax position, liquidity requirements and asset allocation.
The ABP Kit provides everything needed to commence, manage and ultimately commute an Account Based Pension — from the initial trustee resolution and member application through to annual minimum payment tracking, Transfer Balance Cap reporting and commutation. Every document is drafted to comply with the SIS Act, SIS Regulations and current ATO guidance.
Records the Trustee's decision to commence the ABP, confirms the condition of release has been met, sets the annual pension amount and payment frequency, and triggers the TBAR credit event lodgment obligation.
The member's formal application — recording the amount to be converted, payment election, reversionary beneficiary nomination and acknowledgement of minimum payment obligations and TBC implications.
Multi-year minimum payment register using the SIS Regulation age-based percentage factors — pre-populated for five income years with a running paid/unpaid tracker for audit purposes.
Records each member's personal TBC, the credit on commencement, remaining TBC space and all TBAR reporting obligations — including reversionary pension timing rules.
Annual resolution confirming the minimum pension has been paid, the investment strategy has been reviewed having regard to pension phase liabilities, and all TBAR events have been reported.
Full or partial commutation — records the commuted amount, the reason, the payment method (lump sum, rollover to new pension or rollover to another fund) and triggers the TBAR debit event within 28 days.
The SIS Act requires every SMSF trustee to formulate, review regularly and give effect to a written investment strategy — having regard to risk and return, diversification, liquidity, the ability to discharge liabilities (including pension obligations), and the insurance needs of each member. The INV Kit provides a complete, compliant investment strategy framework that goes further — addressing the Division 296 Tax position of each member, an obligation that has become critical from 1 July 2025.
A structured table setting out minimum, target and maximum allocations across all major asset classes — Australian shares, international shares, property, infrastructure, fixed interest and cash — with a current allocation column for year-end comparison.
Formally records the Trustee's risk tolerance selection, investment time horizon and benchmark return target — creating the documented basis for all investment decisions and providing a foundation for adviser recommendation.
Addresses the Fund's ability to meet pension payment obligations, lump sum withdrawal requests and — from 2025–26 — potential Division 296 Tax release requests within the 84-day ATO payment window.
Documents the Trustee's consideration of life, total and permanent disability and income protection insurance for each member — recording the outcome (cover held, cover not required with documented reason).
Addresses whether the Fund's asset mix should be adjusted to manage Division 296 Tax exposure — including the relative merit of income-producing vs growth assets inside super for members with large TSBs.
A built-in annual review checklist — confirming the strategy has been reviewed, asset allocation is within approved ranges (or noting required rebalancing), and all mandatory considerations have been addressed.
When a member transfers benefits into the Fund from another superannuation fund, the Trustee must comply with a range of obligations — from accepting the rollover benefit statement and verifying tax components to SuperStream reporting and MATS lodgment. The RIN Kit provides the resolutions and documentation to do this correctly every time.
Records the Trustee's resolution to accept the rollover, identifying the transferring fund, the rollover amount, the tax components (tax-free and taxable — taxed and untaxed elements) and the SuperStream status.
The member's formal written authority directing the transferring fund to release their benefits — required for both APRA-regulated and self-managed funds before the transfer can be initiated.
Records the tax-free and taxable (taxed and untaxed) components of the rollover as stated on the Rollover Benefit Statement or PAYG Payment Summary — essential for correct tax treatment on future withdrawals.
Step-by-step checklist confirming SuperStream receipt (or paper RBS where applicable), tax component recording, member account update and ATO MATS reporting — creating a complete audit trail.
Whether a member is departing for another fund, rolling over a partial balance or exiting the Fund entirely, the OUT Kit ensures the Trustee meets all SIS Act and SuperStream obligations — including Rollover Benefit Statement preparation, correct tax component allocation and ATO reporting within required timeframes.
Records the Trustee's resolution to pay the rollover, identifying the receiving fund, the amount, the tax-free and taxable components and confirming SIS Act compliance — including sections 67 and 303 conditions.
Documents the tax-free, taxable (taxed element) and taxable (untaxed element) components of the rollover — critical for correct tax treatment in the receiving fund and for the Rollover Benefit Statement.
Confirms SuperStream rollover initiation for eligible funds, or documents the basis for a paper Rollover Benefit Statement where SuperStream is not required — creating the required audit record.
Where the rollover constitutes a full exit, the checklist ensures the member account is correctly closed, MATS reporting is completed and any TBA events are lodged — preventing reporting gaps.
Commuting a pension back to accumulation phase — a "roll-back" — is an important tool in both Transfer Balance Cap management and Division 296 Tax planning. It requires careful documentation, a TBAR debit event within 28 days, and a review of the Fund's investment strategy to account for the change in earnings tax treatment. The RBK Kit provides all required documents.
Records the Trustee's resolution — identifying the pension account, the commuted amount, the reason (excess TBC, Division 296 planning or member request) and the date. Triggers the 28-day TBAR debit obligation.
The member's formal written request — identifying the pension to be commuted, the amount (full or partial) and the requested date. Provides the authority for the Trustee to act.
Step-by-step confirmation that the TBAR debit event has been lodged within 28 days — restoring the member's TBC headroom to the extent of the commutation and completing the ATO reporting obligation.
Partial commutations can reduce the amount in pension phase — lowering the Division 296 fund earnings base for affected members. The RBK-1 resolution expressly identifies this as a permitted reason, providing clear documentation for audit.
A Transition to Retirement Income Stream allows members who have reached preservation age to commence drawing a pension — up to 10% of account balance per year — without needing to fully retire. It is an important planning tool for members winding down to retirement. The TTR Kit covers commencement, ongoing management and the conversion to a full ABP when a complete condition of release is met.
Records the Trustee's resolution to commence the TTRIS — confirming the member has reached preservation age, setting the annual payment amount (between the SIS minimum and 10% cap) and noting that earnings on the TTR account are taxed at 15%.
The member's formal application — acknowledging the 10% maximum, the absence of lump sum access, the 15% earnings tax and the conditions under which the TTRIS can be converted to a full ABP.
A built-in table calculating the maximum permissible annual drawdown for each income year — based on the 1 July account balance and the applicable age-based SIS minimum percentage — ensuring compliance with the annual cap.
When a full condition of release is met (aged 65, or certified retirement), the conversion checklist ensures the TTRIS is correctly converted to a full Account Based Pension, the TBAR credit event is lodged and the ABP Kit documents are completed.
A Binding Death Benefit Nomination is the cornerstone of SMSF estate planning — directing the Trustee to pay the member's death benefit to specified dependants or the legal personal representative. But a BDBN that fails to comply with the SIS Act or the Trust Deed is invalid, leaving the Trustee with full discretion. The WBD Kit provides correctly drafted non-lapsing and lapsing BDBNs that comply strictly with the MGS SMSF Deed and the SIS Act.
Does not expire after three years — unlike a standard lapsing BDBN. Remains binding and valid until the member revokes or replaces it. Eliminates the risk of accidental lapse and provides certainty for estate planning.
For members who prefer the traditional three-year lapsing structure — with a built-in reminder system and the triennial review checklist to ensure timely renewal before the nomination expires.
Drafted to comply precisely with the SIS Act requirements and the MGS SMSF Deed — including witness requirements (two witnesses, aged 18+, not beneficiaries), execution formalities and the trustee acknowledgement procedure.
A comprehensive checklist covering all factors that should prompt an immediate review — marriage, divorce, death of a nominated beneficiary, birth of a child, changes in financial dependency — not just the three-year lapse date.
A correctly drafted revocation document — used when the member wishes to cancel an existing BDBN before making a new nomination, or where the member has no dependants remaining and the LPR nomination is more appropriate.
Notes on how reversionary pension nominations interact with BDBNs — including the TBA implications for the reversionary beneficiary, the 12-month deferral of the TBA credit event, and the interaction with the death benefit tax provisions.
The death of an SMSF member triggers a complex set of obligations — BDBN status review, probate and estate administration, tax component assessment, Division 296 Tax provision, TBAR debit reporting and PAYG withholding. The DBK Kit provides a structured, compliant process for every step — from notification to final payment — protecting the Trustee and the estate.
Records the death of the member, confirms the account balance and insurance proceeds, documents the BDBN status (valid and binding, or invalid requiring discretion), proposes the benefit recipient(s) and form of payment, and addresses Division 296 Tax provision.
A structured assessment of whether the existing BDBN is valid — checking compliance with the SIS Act, the Trust Deed, witness requirements, eligibility of nominated beneficiaries and whether the nomination has lapsed. Creates a clear audit record of the Trustee's determination.
Shows the applicable tax treatment by recipient type — tax dependants (including spouse and minor children) receive tax-free payments; non-dependants (including adult children) pay 15% + 2% Medicare Levy on the taxable (taxed) component.
From 2026–27, Division 296 Tax applies in the year of the member's death (calculated on TSB at the start of the year). The DBK checklist ensures adequate provision is made for this liability before the death benefit is released to beneficiaries.
The beneficiary's formal claim form — recording the claimant's details, relationship to the deceased, the type of benefit claimed and the supporting documents attached (death certificate, probate, proof of dependency).
A complete post-death reporting checklist — TBAR debit event for pension accounts in retirement phase, PAYG withholding where applicable, ATO lodgment within required timeframes, and member account closure.
The Annual Trustee Compliance Kit is the backbone of every SMSF's year-end process. It provides a comprehensive, structured checklist covering every compliance obligation — from pre-30 June planning through to Annual Return lodgment, audit, TBC confirmation and regulatory compliance — together with the annual general resolution confirming the Fund's compliant status for the year.
Prompts the adviser and trustee to review pension minimum payment progress, contribution cap status, Division 296 Tax exposure and whether any pre-30 June actions are available to improve the Fund's tax or compliance position.
Covers financial statement preparation, appointment of the independent SMSF auditor, MATS and TBAR reporting, and all trustee resolution requirements — creating a complete, documented audit trail.
A built-in table of concessional, non-concessional, downsizer and carry-forward contribution caps for 2025–26 and 2026–27 — with year-to-date tracking for each member and a cap breach alert system.
Confirms each member's personal TBC and available space, checks for excess transfer balance determinations and confirms all pension minimum payments have been made by 30 June — preventing inadvertent pension cessation.
Addresses sole purpose test, in-house asset rules, related party transaction compliance, arm's-length investment requirements, collectables rules and trustee declaration requirements — the key SIS Act risk areas for every SMSF.
A comprehensive year-end resolution — confirming the Fund's compliant status, approving the financial statements, authorising Return lodgment, confirming investment strategy review, and noting all ATO reporting obligations as completed or in progress.
Contribution cap breaches are one of the most common SMSF compliance failures — attracting significant additional tax levied on the individual member. The CON Kit provides a structured framework for accepting and classifying all contribution types, monitoring year-to-date totals against the applicable caps, and completing the required ATO reporting — for both 2025–26 and 2026–27.
Records the Trustee's resolution to accept each contribution — classifying it as concessional, non-concessional, downsizer or spouse contribution, confirming the member's TFN has been provided and noting year-to-date totals against the applicable cap.
Per-member contribution tracking across all contribution types — with running year-to-date totals, the applicable cap limit and an alert flag when the member approaches or exceeds any cap threshold.
Eligibility checklist for members aged 55+ who have sold a qualifying Australian home — confirming the ownership period, the 90-day lodgment window and the interaction with TSB (counted for TSB purposes but not the NCC cap).
Framework for calculating available carry-forward CC cap — identifying unused cap from the previous five years for members whose TSB was under $500,000 at 30 June of the prior year. Includes a five-year unused cap table.
Guidance and a confirmation record for members aged 67 to 74 — documenting the 40-hours-in-30-consecutive-days work test that must be satisfied before the Trustee can accept a voluntary contribution (not required for downsizer contributions).
Step-by-step confirmation of ATO Member Account Transaction Service (MATS) reporting — required for all contribution events — creating the documented record needed for audit and regulatory review.
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