It means that we can sign the required forms to obtain the information from your financial institution.
As we have specifically limited the scope of the document, we will still need to obtain some documentation from you from time to time in order to undertake our duties as the administrator of your fund.
This document is signed by the trustees of the SMSF. By signing it, you authorise certain staff at Heffron to sign the required documentation to obtain information relating to your fund's investment accounts. These staff have extensive experience in the administration of SMSFs and have been appointed by our Board of Directors.
What does Heffron's LPoA allow?
Heffron's Limited Power of Attorney document allows us to:
- contact financial institutions on your behalf to obtain information on accounts related to your SMSF
- lodge forms on your behalf in line with these conditions
- obtain information on investment and asset purchases made by the fund
- contact trustees of existing superannuation funds to arrange rolling over member balances into your SMSF
- sign and lodge Activity Statements, Pay as You Go Summaries and ATO forms on behalf of the fund
This allows us to access electronic data relating to your fund’s investment accounts that can be automatically loaded into our processing software. It enables us to ensure that the details of the fund are more up to date and accurate than if we were seeking the information in any other way.
What does Heffron's LPoA not allow?
- Sell investments
- Withdraw funds
- Transfer funds (except related to rolling benefits from an existing superannuation account into your fund)
- Open or close accounts
- Change beneficiaries
and we can't act on your behalf in any other way or make any other important decisions about your fund that should be made by the trustee.
