SuperEasy definition of Investments for the purpose of Fee Schedule:
Basic fee for the fund with up to 15 "Listed Australian Investments" is $1,595, includes an audit fee of $700 and GST, regardless of the number of transactions and the size of the fund. The basic fee of $1,595 includes all the financial statements, tax return, audit and lodgement with the ATO. Each additional "Australian Investment" is charged $44.00, GST inclusive, regardless of the number of transactions per that investment*. If you have TLS shares and BHP shares, they will be counted as 2 investments.
The table below depicts the additional costs that will apply if the fund exceeds the standard 15 Australian investments:
| Description | GST incl. |
|---|---|
| Each additional listed Australian Investment | $44 |
| Each additional unlisted Australian or Overseas Listed Investment | $88 |
| Each Overseas Real Estate Properly | $616 |
| Each additional Trading Account: Option, CFD (Contract for Difference) or Overseas Listed Investment not listed on any foreign stock exchange | $220 |
| Each additional Forex Options Account and Foreign Option Account | $308 |
| Each In-house Asset, cryptocurrency account | $220 |
| Each Real Estate Property (no borrowing) | $220 |
| Each Real Estate Property borrowing arrangement | $352 |
| Each plant or equipment leased to external parties | $88 |
| Defined Benefit Fund | $308 |
* Investments & Transactions
The definition of investments for the purpose of SuperEasy Fee Schedule is: an asset (shares in a company) or item (bank account or insurance policy) purchased with the purpose of generating income, appreciation in the future or provision of some other benefit.
The investment is initiated by a transaction, either a purchase or a sale (buy and sell contract note), deposit in a bank account or withdrawal.
Investments also create other transactions such as: dividends, dividend reinvestments, interest, distributions, management fees, accounting fees, legal fees, corporate actions such share split, or bonus shares, or share reduction to mention some of them.
In the process of Annual administration, SuperEasy has to account for every investment and allocate and account for all transactions for that investment for the whole financial year.
The regulatory purpose for accounting for every investment and associated transactions results in calculation of a realised or unrealised profit or loss and closing balance or value for each investment as at 30th of June.
This is summarized in either a tax liability or refund that is reported to the ATO and is one of the main purposes of financial reporting.
N.B. If you buy an investment during a financial year and you sell it before the end of the financial year, the investment still has to be accounted for, i.e. the associated profit and loss during the time the investment was held in your portfolio has to be calculated and reported to the ATO
Apart from entering all transactions in the accounting software, all associated documentation are kept on the records for a number of years for the audit purposes.
