Topdocs has released a new SMSF compliance documentation package that will provide users with unlimited access to a wide range of documents free for the first year under certain conditions.
The new SMSF Compliance Suite, which went live today, is fully integrated with BGL, Class and SuperMate and includes annual SMSF trust deed updates, where a trust deed is updated to the Topdocs offering, as well as documents relating to investment strategies, enduring powers of attorney and appointments of enduring guardian.
Also included are documents for the commencement of account-based pensions and transition-to-retirement income streams, pension resets and commutations, benefit payment allocations and SMSF death benefit pensions.
Costs for the suite will be $10 a month or $99 a year for each SMSF administered, but these costs will be waived for the first year for any SMSF practitioner who updates the trust deeds of their client base to the Topdocs SMSF Governing Rules 2020.
Topdocs director Michael Spakman said the suite had been developed to provide SMSF advice practitioners with a cost-effective method to ensure any SMSF legal documents were compliant and up to date, given their scrutiny by the ATO, auditors and the courts.
“Advisers work hard to ensure their clients are provided with a quality service, but at times the ongoing legal documentation associated with an SMSF is treated as a commodity, which can cause audit and litigation issues down the track,” Spakman said.
“In creating this service, we are looking to provide advisers with a highly automated, cost-effective way to ensure their funds have best practice documentation in place, thereby mitigating the risk of these issues and better protecting themselves and their clients.”
Earlier this year, Topdocs offered financial advisers free access to COVID-19 relief documents related to early access of superannuation funds from an SMSF and rental relief for SMSF landlords.
