How to model a Partial Rollover to SMSF | Centrepoint Alliance Technology Solutions

After you have created the base details in your Xtools+ (including the SMSF Entity), we can then action the rollover. Due to a limitation in Xtools+ we will need to complete this from both the Client and the SMSF side in two places, this is when actioning the rollover from the Client it only allows a full rollover, where as we have further option in pushing the funds back from the SMSF entity.

To start with navigate to ‘Input -> Individual -> Super -> Accumulation’, then scroll down til you see ‘Rollover -> Rollover to Self Managed Superannuation Fund’ then update accordingly for either Client and/or Partner:

Then navigate across to ‘Input -> SMSF -> Capital’ and locate ‘Rollover’ section. For the Client and/or Partner to perform the partial rollover for, update the ‘Rollover to Accumulation’ date to be the same date as the date entered above, ensuring the funds rollover to the SMSF then the partial balance is then transferred back to the Accumulation Fund. Once the has been entered the rest of the field will populate, allowing you to select either a Percentage or Fixed Amount then if Present or Future value and the sum of funds. You will also have an additional field should you wish to push to rollover the balance of the SMSF back to Accumulation at a later date:

We then navigate to the respective clients Accumulation fund table to verify the funds going out then back into the fund by going to ‘Display -> Individual -> Super -> Accumulation Fund -> Client’, then expand the ‘Transaction (SOP)’ list to verify:

Published by Joshua Heath