FAQ's (Frequently Asked Questions)

Lime Actuarial specialises in SMSF actuarial certificates for Allocated Pensions, Market-linked pensions, Term allocated pensions and Account based pensions. Our certificates are fast, easy to use, accurate and great value.

Our clients are SMSF administrators and accountants who want to make their businesses more efficient.

Greg Einfeld is our founder, director and actuary. Greg has over 20 years’ experience in the Australian Superannuation and Financial Services industry. He has MEc and MBA degrees, is a licensed financial adviser, a qualified actuary, and specialises in Self Managed Super Funds (SMSF’s). He regularly presents on a variety of SMSF topics including investment, tax, estate planning, pensions, administration and strategies.

We are committed to bring down the price of Actuarial Certificates for SMSFs, which is why we charge less than most of our competitors. Our certificates cost only $100 (ex GST).

You can either pay by Credit Card at the time of ordering the Certificate, or we can send you an invoice. You can make this selection when you order the Certificate. If you don't pay when you order then we will send you a monthly statement, so you can pay us once per month.

In almost all cases you will have to wait a few seconds and then your Certificate will be issued. If we believe there might be an issue with the data you entered then we will generally respond to you within 1-2 hours.

Lime Actuarial is able to receive data feeds from Class Super and BGL 360.

Actuarial Certificates are required for certain Self Managed Super Funds (SMSF’s). Typically, part of these funds will operate in a taxed environment (where the fund pays 15% tax on investment income) and the remainder in tax exempt environment (where the fund is exempt from paying tax on investment income). An actuary will calculate what proportion of the fund is taxed versus exempt and then records this result an Actuarial Certificate.

For the 2016/17 financial year, and earlier years, the following applies: Actuarial certificates are required for Self Managed Super Funds (SMSF’s) that meet all of these 3 criteria:

• The fund paid a pension benefit to one or members during the financial year. That is, the member(s) were drawing down on their super balance.


• One or more members had an accumulation balance during the year. That is, the member(s) were saving for retirement.


• The fund was not segregated into separate accounts for each member.

For the 2017/18 financial year until the 2020/21 years, the following applies: Actuarial Certificates are
required for SMSFs that meet these criteria:

• For part of the year, there were both Retirement balances (such as Account Based Pension) and Non-Retirement Balances (such as Accumulation and Transition to Retirement) at the same time, and the fund was not segregated into separate asset pools for Retirement and Non-Retirement, OR


• The fund’s assets were “disregarded”. That is, a member had a Total Superannuation Balance (including external funds) at the start of the year in excess of $1.6m, and had a Retirement Account in a superannuation fund at that time.

For the 2021/22 financial year, and later years, the following applies: Actuarial Certificates are
required for SMSFs that meet this criterion:

• For part of the year, there were both Retirement balances (such as Account Based Pension) and Non-Retirement Balances (such as Accumulation and Transition to Retirement) at the same time, and the fund was not segregated into separate asset pools for Retirement and Non-Retirement

What is segregation?
There are 2 types of segregation:

• Deemed segregation takes place if all balances in the fund are Retirement accounts


• Elected segregation takes place of the trustees have made an election to match particular assets with Retirement and Non-Retirement.

As a general rule it is more complex to run a fund with segregated assets, which is why most funds don't elect to segregate assets. If the assets in your fund are unsegregated for all or part of the year then you will require an Actuarial Certificate in order to claim ECPI.
If this is all too confusing then we are here to help - call us on 1300 546 300.

Many actuaries use approximations in their calculations. As a result of these approximations you may end up paying more tax. At Lime Actuarial we prefer accuracy over approximations.

You can click the "Save" button at either the top or bottom of the form. A draft will be saved. A draft is also saved if you exit the form and you have completed a particular page by clicking "Next".

The good news is that you don't need to feel guilty about asking for a new certificate, and what's more we won't charge you for the update. Here are the steps you can follow to update your certificate if you entered your data manually:
1. Login to the dashboard
2. Navigate to the Certificates page which shows a list of Certificates that have been prepared
3. Use the search, sort and filter tools to find the certificate you would like to update
4. Click "Revise Certificate".
You will be taken to the form you previously completed, and there you can make your updates and request a new certificate.

If your data was sent from an accounting platform such as Class or BGL360, and you want to update
your data, we recommend that you go back to your accounting software and send us the updated
data, the same way you sent the original data. We won’t charge you for the update.

Login, and then go to the Account profile page https://limeactuarial.com.au/dashboard/profile. Click on the "Add new user" button and complete the details of the new user. You can then notify them of the details you have set up for them. Note you will need to have been given admin rights in order to add new users.

In order to complete your order you will need 4 types of information: (1) Fund information such as ABN, fund name, trustee name. (2) Member information such as member names and dates of birth. (3) Cash transactions including contributions, pension payments, rollovers and withdrawals (4) Non cash transactions such as starting and stopping pensions, and internal transfers within the fund. Don't worry if you don't have all this information at hand. You can always save your work and come back later to complete your order. You can also revise your data and obtain an updated certificate at no cost as many times as you like.

You will be able to access your Certificate immediately. It will appear on your screen and will be emailed to you. What's more, you can log in at any time in the future and retrieve it. If you aren't happy with the result then you can revise the data and receive an updated Certificate at no cost.