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The workload and complexity of SMSFs is ever increasing as the evolving SMSF clientele now includes:
- More members approaching retirement age.
- Various changes in superannuation rules.
- More members commencing pensions.
- More SMSFs with a mix of accumulation and pension accounts.
- A greater array of investment restructures and mergers.
- The need for the accounting and audit functions to be independent.
- Increased scrutiny by the ATO.
It can be difficult to stay on top of SMSF obligations amidst this changing environment and often limited staff resources.
At Alyansa, we provide specialist SMSF administration support to local Accounting and Financial Planning practices. This enables you, as the adviser, to focus solely on the client relationship, without the worry of undertaking the annual SMSF compliance. This also helps ensure a quick turnaround of SMSF accounts and returns, for a better overall service to your clients.
The process
In undertaking your SMSF administration, we try to make the process as straightforward as possible and follow appropriate steps to ensure efficient turnaround.
SMSF package
Our SMSF package normally includes:
- Financial Statements
- Member Statements
- Income Tax and Annual Return
- Investment Reports
- Pension Calculations
- Related Minutes
- PAYG Payment Summary (if necessary)
- Segregation of Assets or Actuarial Certificate (if necessary)
Due to the automation of our processes we also provide your SMSF clients with regular quarterly reports. To view a set of sample reports, please email a request to super@alyansa.com.au
We also include with the SMSF administration, specific technical superannuation support, where required, as it relates to a particular SMSF.
Moreover, should you need help with other SMSF matters (such as SMSF establishment, pension commencement and superannuation/retirement planning); we can assist and provide a separate quote for this work.
Audit
Our workpaper files are prepared to ensure a smooth audit process.
We arrange for an independent audit of your client’s SMSF and liaise with the auditor throughout the whole audit. This would be done in conjunction with existing audit arrangements.
If an alternative auditor is required, we will arrange for an independent audit by a SMSF audit specialist.
Accounting systems
We utilise the BGL Simple Fund (BGL) accounting software, which is the leading SMSF accounting software for trustees and advisers.
The download of bank account information directly into BGL is done using Banklink.
Banklink allows transactions to be viewed, but not be changed. It overcomes the issue of missing bank statements and also allows us to prepare more regular reports, when required.
Fees
We charge on an hourly basis and provide a fixed quote for your SMSF administration.
We acknowledge your referral to Alyansa and the time you spend obtaining information. This would be reflected as a discount to our normal hourly rate.
Service
We pride ourselves on our personal service and professional approach.
You deal with the same individual throughout the whole process, for consistent and regular contact.
We have specialist experience in SMSFs and understand the circumstances faced by Accountants and Financial Planners.
The clients are your clients and we simply assist with the provision of SMSF support.
Our normal turnaround times are within one month, depending on availability of all information. Should any issues arise, we aim to keep you informed of any delays in the process.
Benefits
By utilising Alyansa your capacity to service SMSF clients would not be limited by existing staff or resources. You could have unlimited growth in SMSFs and still meet client needs.
Our SMSF support service enables you to focus entirely on maintaining and improving the client relationship. You are free from the compliance burden and any exposure to staff turnover.
Contact us
To discuss your SMSF needs, obtain a proposal or simply find out more about our SMSF support service, please contact us by phone on 03 9813 5574 or by email at super@alyansa.com.au .
Alyansa Pty Ltd
Accountants and Superannuation Specialists
Suite 2, 668 Burwood Rd, Hawthorn East VIC 3123
T: (03) 9813 5574 M: 0413 184 090
F: (03) 9923 2713 E: info@alyansa.com.au
