News : Administration

Administration, Regulation

Balance tops legal permission

member balance release condition

The obligation to determine if there are sufficient funds to make a member payment is the most important consideration for SMSF trustees.

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Administration, Superannuation

Withdrawals raise asset questions

SMSF accidental withdrawal

An accidental withdrawal from an SMSF may not be seen as a loan to a member, but will raise questions around the separation of assets.

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Administration, Documentation

SMSFA calls for TBC simplification

SMSFA TBC

All member transfer balance caps should be aligned to the general cap to reduce costs and confusion brought on by indexation, according to the SMSF Association.

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Administration

SuperConcepts makes pitch for BT clients

SuperConcepts BT administration

SuperConcepts is aiming to attract former BT SMSF administration clients with a low-cost fee covering the entire current financial year.

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Administration

BT points admin clients to Heffron

BT Heffron SMSF

BT will give SMSFs the option of choosing their own administration firm but has held discussions with Heffron about transition its clients to the latter.

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Accounting, Administration

Automated administration flourishing

SMSF automated administration

The use of SMSF administration software has increased among accounting firms and shows no signs of abating in the immediate future.

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Administration

Indexation unlikely to up admin costs

indexation administration costs

The implementation of indexation to super thresholds, such as the transfer balance cap, is unlikely to cause a rise in SMSF administration charges.

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Administration, Superannuation

Admin fee discount needs defining

SMSF fee discount

The definition of discount provided on SMSF administrative fees, often given to partners or employees of accounting firms, requires clarification.

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Administration, Technology

Admin provider beefs up contributions tool

SMSF alliance contributions tool

SMSF Alliance has made changes to its contribution reporting system allowing advisers an overview of an SMSF client’s total input into their fund.

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Administration, Technology

DomaCom integrated with BGL

Domacom BGL

The integration between DomaCom offerings and BGL Simple Fund 360 administrative platform is now complete.

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