SMSF Modelling within Cashflow Scenerio

 

How to have the SMSF Applicable option enabled for scenario’s

When creating a new scenario, on the scenario details page there is an option for SMSF Applicable. Please check the checkbox and this will be included in the scenario.

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Please Note: - The SMSF Applicable option can only be turned on when we are adding a new scenario. This option will not be available if we try editing an existing scenario.

 

How does SMSF come up in the Cashflow Scenario?

SMSF will come up as a separate entity in the scenario. It can be viewed from the little dropdown next to the Owner dropdown that comes up in the scenario.

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SMSF Entity> Further Details:-

  • In case of a joint client record, the SMSF Section will have 5 tabs, namely, SMSF, Client/Partner Accumulation, Client/Partner Pension. Likewise in the case of a Single client, the Partner tabs will be removed.

Some Details around the above tabs:-

a) SMSF:- The SMSF tab will basically bring in the balances of all the superfunds owned by the client and partner. This will show as the Opening balance of the SMSF. Further to this the SMSF will have its own cash account and will also bring in Liability information and Investment Properties owned by the SMSF that have been entered in the Fact Finder section.

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b) Client/Partner Accumulation:- This will show details that are specific to the member of the Superfund, that is contributions, any deductions, like Insurance Premium or any super related expenses. It will also show when the Accumulation balance has been rolled over to the Preservation phase.

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c) Client Pension/Partner Pension:- Lastly, this tab will give us complete information related to the Pension, the pension payments, the income, and the growth of the Pension.

 

Points to be Noted:-

  • The Opening Balance in the SMSF sheet will be the cumulative balance of all the superfunds held by the client/partner entered in the Superannuation>Existing section.
  • The Cash Account will be the cumulative sum of the balances of the Bank Deposits entered as an Investment option for the superfunds.
  • In case we are looking at making any Recommendations to the SMSF we can use the Plus button on the SMSF sheet to add in the Investment. We also have the option to be able to right-click on the added Investments to set up Additional Investments or Redemptions.

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  • To check the Assumptions with reference to the Cash Account we can right-click on the Cash Account option and we shall be able to see the Return on Cash and Overdraft rates.

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