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A trustee must elect to become 'regulated' under the SISA if the fund wishes to receive concessional tax treatment. The trustees of a new fund must, within 60 days after establishment of the fund, give the Tax Office a notice of election to be a regulated superannuation fund.
The trustee completes an Application for ABN registration for superannuation entities. You can register online at www.abr.gov.au or you can phone the Superannuation Infoline on 13 10 20 and ask for a paper copy of the application.
Once a trustee has elected for the fund to become regulated, they cannot reverse the decision - the fund would have to be wound up to cease to be regulated under the SISA and the Superannuation Industry (Supervision) Regulations 1994 (SISR).
Last modified: 25 Nov 2009QC 21714