At dmca, we’re always on the lookout for the newest and best strategies to make managing your finances simpler, faster, and more secure. One area where technology has made a real difference is electronic signing. By using our secure third-party software, clients can sign documents easily and efficiently without the need for printing, scanning, or mailing paperwork.
Importantly, the use of electronic signatures is not just convenient, it’s governed by legislation. The Electronic Transactions Act 1999 and the Electronic Transactions Regulations 2020 set out the framework for how electronic transactions are legally recognised across Australia.
That said, it’s important to understand that not all documents can be signed electronically. Rules vary between states in Australia, and some financial and government institutions may not accept digital signatures. For example, in the case of Self-Managed Super Funds (SMSFs), the fund’s deed must specifically allow electronic signing before it can be used.
Common documents that can be signed electronically include:
- Financial statements
- Income tax returns
- Trustee minutes
- Trustee representation letters
- Pension commencement or commutation documentation
- Notice of intent and related documentation
Documents that cannot be signed electronically include:
- ASIC forms and submissions
- Consent to Act as a Trustee
- ATO Trustee Declarations
For other documents, particularly those requiring a witness, such as a trust deed, electronic signing may or may not be valid depending on the state’s legislation. For example, in South Australia, a trust deed can only be signed with a wet signature and must be witnessed in person.
At dmca advisory, where possible, we prefer to use digital signing to make things easier and more secure for you, while ensuring compliance with legal and institutional requirements. Electronic signing software we currently use are Annature for signing documents such as Financial Statements and Tax Returns; and Xero Sign for signing Activity Statements. As always, it is important to remain cyber-aware – if you receive any documents or requests for signatures that seem suspicious or come from an unfamiliar third party, please do not hesitate to contact us to verify.
We understand these conditions and requirements can be confusing and sometimes stressful… Our dmca experts will help you navigate any uncertainties, guide you through the process, and advise when electronic signing is the best option.