• Private company dividends received by a superannuation fund

    Supporting document requirements for private rulings

    This page lists the documents and information we usually need to process private rulings about private company dividends received by a superannuation fund.

    Attention

    Send the following documents and information with your private ruling application form.

    End of attention

    Private company dividends received by a superannuation fund

    Details relating to the super fund

    • Is the fund a complying fund?
    • Is the fund a self-managed super fund?
    • The date the fund was established
    • Details of the trustees of the fund: name; Australian business number (ABN); and, if the trustee is a company, the names of the directors
    • Details of the members of the fund, and any relationship between the members and the trustees (both personal and business relationships)
    • If any member of the fund has been engaged in any capacity by the private company (for example, as an employee, director or contractor), details of the engagement, including their duties and the total remuneration received
    • Details of any super contributions made by the private company, or a related party, for the benefit of a member
    • Details of how the trustee came to know about the private company and the basis on which the trustee decided it was appropriate to invest in the company; a copy of the information or documentation considered by the trustee; a copy of the minutes of any trustee meetings relating to the investment
    • Details of the source of the money used to acquire the shares in the private company, including:
      • contributions for each member of the fund for each year since the year prior to the year in which the investment was made
      • whether any of these contributions were employer contributions
      • if there were employer contributions, the name of the employer and the relationship of the employer to the fund, its members, the company, and its directors and shareholders
       
    • A copy of the fund's financial statements for the year the dividend was paid and the two prior years, including copies of each member's account details
    • A copy of the fund's investment strategy
    • The number and type of shares acquired by the fund
    • Details of any members of the fund who hold shares in the private company in their own right
    • Who did the fund acquire the shares from, and at what cost?
    • The value of the shares at the time of acquisition, including details of who valued the shares and on what basis
    • The rights attaching to the shares acquired - for example, voting, dividend or return of capital

    Details relating to the private company

    • The name and ABN of the private company
    • The date of its incorporation
    • Details of the company's business activities
    • A copy of the company's articles of association and incorporation
    • A copy of any shareholders' agreement
    • The names of the directors of the company and details of any relationship to members/trustees of the super fund (both personal and business relationships)
    • A listing of the current shareholders of the company, their respective shareholdings and the extent to which the shares are paid-up
    • Details of any relationship between the various shareholders
    • Details of any relationship between members/trustees of the super fund and any of the other shareholders
    • Details of the shares issued by the company or sold by shareholders, including:
      • the class of shares issued or sold, and the rights attaching to those shares
      • the date the shares were issued or sold
      • who acquired the shares and how many shares they acquired
      • how much they paid for the shares
      • who sold the shares and any relationship with the purchaser of the shares
      • the value of the shares at the time of issue or sale, the basis of the valuation and who performed the valuation (provide a copy of the valuation)
      • the extent to which the shares were paid-up at the time of issue or sale and whether any calls have been made on partly paid shares
      • whether dividends paid are in proportion to the paid up value of its shares
       

    Details relating to dividends paid by the private company

    • The date and amount of the dividend paid to the super fund, including the franked amount, unfranked amount and imputation credit
    • Details of dividends paid to other shareholders at the time dividends were paid to the super fund
    • The history of dividends paid by the company
    • Details of the company's dividend policy
    • The source of the money used to pay the dividend
    • A copy of the company's financial statements for the year the dividend was paid and the two years prior
      Last modified: 25 Sep 2006QC 19077