You can transfer into super and pension accounts from an external source as a contribution on behalf of your client.
Things you should know before you get started:
- For existing pension accounts, please also submit a client signed Pension Update Request in addition to the requirements below
- The assets must be available on the applicable Investment Menu to be held on platform
- All transfers into superannuation accounts will occur as a change of beneficial ownership (CBO) transfer and will trigger a CGT event. This is because the beneficial owner of the account is the superannuation fund, not the member
- Contributions must adhere to contribution caps and are subject to superannuation rules as outlined in the taxation and superannuation law
- The client’s Tax File Number (TFN) must be provided before we can accept any personal contributions into their super account
- For pension accounts, please ensure you don’t exceed the transfer balance cap. Pension starting values are calculated after all assets, rollovers and/or contributions are received, and may differ to the initial transfer value due to market movement.
- The effective date of the transfer will be when we have received all the completed documents
- The consideration will be the closing market price on that date. For estate accounts, some issuers may require additional forms
- Where the client intends to claim a tax deduction on a personal contribution, the client must provide a valid Deduction Notice for Personal Contributions form
- For all equity transfers that involve a Change of Beneficial Ownership, the market value must be greater than $500 as at transfer date.
Further information on Asset Transfer timeframes and requirements can be obtained below:
If you have any questions, please contact the Asset Services team: asset.inbox@perpetual.com.au.