Administration and software specialist provider SuperConcepts has announced it will provide pro bono assistance for SMSF trustees affected by bushfires.
The free service is being offered to benefit clients and members of the general public who have suffered major financial or personal loss from the recent bushfires across the country.
SuperConcepts said the pro bono service would include the provision of SMSF technical assistance, liaison with the ATO in regard to SMSF compliance and lodgement matters, and, in certain circumstances, the recreation of fund records damaged or destroyed in the bushfires.
SuperConcepts chief executive Lara Bourguignon said: “We have experienced technical staff in all states across many of the affected areas who would like to help people get back on their feet.
“SuperConcepts is passionate about supporting Australians through tough times and we’ll help those affected by this disaster however we can.”
In addition, the firm stated it would provide a disaster relief package for clients, which would include the waiver of certain fees for those directly affected by the bushfires.
Technical assistance with fund compliance matters such as accessing funds due to financial hardship or compassionate grounds, and obtaining funds to repair or rebuild damaged or destroyed SMSF assets, would also be included in the relief package, it said.
In addition, it said it would help advisers and accountants by assisting them with contacting clients and providing SMSF technical and compliance support if needed, as well as prioritising advice relating to clients affected by the bushfires.
While a range of support mechanisms is at hand for bushfire victims, such as that being provided by SuperConcepts, early access to superannuation benefits in most cases is highly unlikely to eventuate, SMSF Alliance recently noted.
“Access to superannuation monies from member accounts where the member is not either retired after preservation age, over 65, terminally ill, disabled or deceased is difficult by design so, notwithstanding the financial need of many bushfire victims, they will generally be unsuccessful in accessing their superannuation,” SMSF Alliance principal David Busoli said.
“This is just another reason why those of us with the ability to do so should generously support the various organisations who are providing such urgent and much-needed assistance to the increasing number of bushfire victims.”