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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 us 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 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: 08 Jun 2012QC 25835