Self Managed Superannuation Funds (SMSFs) are run successfully by trustees who are willing to do the homework and understand their roles and responsibilities in the process. SuperEasy® believes trustees should have full ownership of their SMSF, which in turn means free choice of service providers such as stock brokers, banks, financial planners and annual administrators.
SuperEasy® offers accounting services relevant to self managed superannuation funds.
To assist our clients in the process of the establishment and ongoing management of their SMSFs, SuperEasy® provides following tools:
When you appoint SuperEasy® for the annual administration:
We are an ADVISER MEMBER of the AIOFP, an Association that represents Advisers who are not owned or affiliated with Institutions. We do accept commissions on Risk and past Financial products.
“Most large financial planning firms and "private banking" services in Australia are fully or partially owned by banks or other financial institutions. AIOFP advisers are not affiliated with banks or insurance companies, which means we work only for you, the client.”
“At the AIOFP, we believe that every investor in Australia deserves the comfort of knowing that their best interests are being put first. An independently owned financial adviser sits in a unique position of being able to research, assess and present all the best options available to a client, and assist in making the best decision for you without the conflict of being affiliated with a financial institution.”
“To be an AIOFP member, practices must not have any ownership from a financial institution and operate their own Australian Financial Services License under strict regulation by the Australian Securities and Investment Commission (ASIC). These two elements allow the AIOFP member adviser to make their own decisions on a client’s portfolio direction and content without the conflicting influence of institutional ownership.”
To find more about the AIOFP visit https://www.aiofp.net.au/
ATO Lodgment Program Certificate
Since 2013 financial year the Australian Taxation Office has changed the way of operating and putting emphasis on measuring efficiency and lodgment programs of accounting practices.
The program is important from couple of perspectives: it demonstrates the capability and level of professionalism of the accounting outfits, but also has an impact on the compliance of the self-managed superannuation funds and penalties associated with late lodgments of the tax returns.
The ATO benchmark for the lodgments is 85% and above, based on the number of funds on the tax agent list. The lodgment program is based on demonstrated lodgment performance and recognizes the tax agents who have good practice management, by utilizing the electronic lodgment system and doing so consistently on time.
SuperEasy® has achieved 99.2% lodgment score for the 2017-2018, 93% lodgment score for the 2016-2017, 2015-2016, 2014-2015 and 2013/14 financial year, while the average for the similar practices is 82.7%.
This is an excellent achievement for SuperEasy® but without timely submission of our clients’ documentation, our hard work and discipline would have been lost and the achieved result would have been lower.
CLICK HERE to display SuperEasy Lodgement Certificate
2012 Winner SMSF Administration Provider $250K plus category - Financial Review Smart Investor
Financial Review Smart Investor 2012 October edition brought to its readers a comprehensive article about Self Managed Superannuation Funds (“The Help” page 31). All together 36 SMSF service providers were bench marked but only 11 were featured and presented in three main categories:
The Smart Investor benchmark test and subsequent rating was based on important and relevant SMSF industry benchmarks such as: time in the market, number of SMSF on the books, qualification and expertise of the administration team, spectrum of services offered, including compliance auditing, tax management, pension establishment and technical advice and cost of the services.
SuperEasy® was rated the best service provider in the bracket of “Best SMSF Administration Providers - $250,000 and plus”, with the Smart Investor rating of 82. To put this rating in context it is important to mention that the highest rating given for all three categories was 83, making SuperEasy® number one in its own category, and second best among all the reviewed companies.
SuperEasy® web site is protected by the SSL Certificate (128 Bit). Data exchanged with our clients is encrypted, and can only be read by its intended recipient, keeping it safe, private and confidential.
With the purchase of the establishment for your Self Managed Superannuation Fund SuperEasy® provides not only the Trust Deed, but also the Establishment Kit that will ensure your SMSF is compliant. The Establishment Kit is complimentary (free of charge) and contains the following documents:
Annual administration withSuperEasy® is facilitated by our Fixed Fee Quoting Administration Calculator that gives you the exact price for the End of Year (EOY) processing of your SMSF.
Our Annual administration fee includes all the financial statements, tax return, audit and lodgement with the ATO. SuperEasy® specializes in self managed superannuation funds only, therefore our accountants and auditors have unprecedented knowledge and expertise in this specific area of superannuation. When processing the tax return and audit of your fund, our emphasis is on compliance, reliability and your understanding of the process.
According to the recent survey published in SMSF Adviser Magazine, July 2017, an overwhelming majority of SMSF trustees are uncomfortable with their personal financial records being outsourced and processed overseas without their consent or knowledge. While 93 per cent of respondents have a negative view of accountants sending work to offshore accounting suppliers, 97 per cent believe offshoring is not secure. With the ever growing presence and threat of personal data theft, the problem presents itself as acute.
SuperEasy® conducted its own survey of the SMSF service providers and was able to confirm majority of SMSF outfits are outsourcing the work to China, Vietnam, India and Philippines. This shift is clearly driven solely by the pricing strategy without consideration of the quality implications. Australian Superannuation legislation is complex and it is highly unlikely operators who don’t have Australian qualification will have the appropriate knowledge and skills essential for the quality processing.
This new situation in the market is interesting from the perspective of the regulatory bodies attempting to raise the bar in the SMSF industry by imposing stricter regulations and control, with the main aim of protecting the SMSF trustees' interests, while the industry is sliding into pricing wars and lowering of standards.
It has also become apparent that the same pattern of lowering the prices is evident and followed by the SMSF Audit community, to the point that in many cases Audits are not processed correctly or even worse, not conducted at all!
SMSF trustees are urged to do their homework and ask their providers whether the work for their SMSF is outsourced offshore. While the legislator requires accountants to inform clients when their work is being sent overseas, this is somehow overlooked or the information is buried in the fine print. The trustees should also be diligent about fully understanding their responsibilities which kick in a soon as the SMSF establishment documentation is signed and the fund is registered with the Australian Taxation Office. SMSF trustees have the ultimate responsibility for their SMSFs, this includes the annual administration conducted by the nominated accountant. Once trustees have signed the tax return, the implication is they have fully understood the paperwork, and any compliance, accounting or taxation issues will be their responsibility, not the responsibility of their tax agent.
SuperEasy® is also alarmed by the attitudes of some clients who transfer their Annual administration to us. In the majority of cases, the clients have been trained to fully rely on their previous accountants and don’t have the basic knowledge about their SMSFs and are being completley unaware of their responsibilities.
SuperEasy® outfit is based in Melbourne with a real rather than virtual office, and employs senior staff with masters and degree qualifications, all with Tax agent and/or Auditor credentials. SuperEasy® clients enjoy direct access to their tax agents and their queries or requests for advice are dealt with the same day.
With continuously adding new services to the existing portfolio of the SMSF services, SuperEasy® has strong commitment to its clients, with a solid business plan and investments that will secure its long term presence in the market while delivering comprehensive and high quality services. Some of the newly added services are: free preliminary SMSF investment property loans assessment, arranging Limited Recourse Borrowing Loans and SMSF Financial Planning advice. SuperEasy® maintains steady pricing structure, while continuously implementing improvements making the business compatible with the 21 century technology.
SuperEasy® is fully aware of the fact that the market dictates lowering of prices but we find this proposition unacceptable for our business model, because lowering of prices translates to lowering of standards.
Questions? Call us on 1300 554 333 or send us an e-mail to info@supereasy.com.au.
