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Paying a subscription for your SMSF
Paying a subscription for your SMSF

Use this guide to purchase a subscription for your SMSF when your SMSF bank account doesn't have a debit card.

Updated over a week ago

If you have an SMSF then you'll also have a bank account, but you may not have a debit card attached to the bank account.

Purchasing a subscription for your SMSF

If your SMSF does not have a debit card, then it's still okay to purchase a subscription for your SMSF as an individual, and then you can reimburse yourself from the SMSF.

Here's how you can do it:

  1. Make payment on your subscription using your personal credit/ debit card.

  2. When you complete the checkout in Syla, select the 'I'm purchasing as a business option':

    1. enter the name of the SMSF as the Business name.

    2. enter the ABN of the SMSF as the ABN.

  3. Reimburse yourself from the SMSF bank account for the exact amount paid to Syla.

    1. i.e. send a bank transfer from your SMSF bank to your personal bank account.

Doing these steps will ensure you have all the appropriate record keeping for your SMSF and meet the requirements of SIS Act.

Do you accept payment by bank transfer?

No, we don't currently accept payments by bank transfer.

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