News : Administration

Administration

SMSF clients very cost conscious

SMSF trustees costs

SMSF trustees have been found to be very mindful of the costs involved with running their own retirement savings vehicle.

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Administration, Technology

SuperMate attains milestone

supermate SMSF administration

The SuperMate administration software platform is now servicing 1500 SMSFs a few months after the launch of the latest version of the service.

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Administration, Documentation

Director ID applications clumsy

director identification

Advisers are recommending their clients use manual forms to apply for a director ID number due to the troublesome nature of the myGovID app.

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Administration, Superannuation

New SMSFs unlikely running by 1 July

SMSF set up

The likelihood of a new SMSF being set up by 1 July is very low due to the extra steps added into the process.

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Administration

Reporting lag an admin challenge

reporting lag contributions

The lag in the reporting for SMSFs is going to create an administrative issue for service providers with regard to the new contributions rules.

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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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