Information for Accountants
Who Are We?
The Super Group specialises in self managed superannuation. From as far
back as 1996, the Super Group has been assisting accountants establish,
administer and offer advice to self managed superannuation funds.
Over the years the superannuation landscape has changed considerably.
We now operate in a highly regulated and complex arena where specialist
training, knowledge and licensing are almost essential. The Super Group
continues to work with accountants through these demanding times, offering
solutions and advice.
The self managed superannuation industry has flourished in recent times
and this has seen many new service providers and promoters enter the market.
Many of these new players are aggressive with their marketing and interpretation
of the laws. They have promoted such things as: “Controlling Shareholder
Contributions”, “Non Complying Overseas Funds”; “Early
Access to Preserved Benefits”; “Aggressive RBL Compression
strategies”; “Negative Gearing through Superannuation”
and the “Alienation of Excessive Benefits”.
These practices are damaging to the industry, opportunistic and subject
the client to greater risk of non compliance and penalty. The Super Group
does not condone these practices. Instead, we promote sound advice and
tested operational practices that are based on years of experience and
understanding of the superannuation laws.
What We Do?
Over the years The Super Group has developed a comprehensive list of
services and solutions for accountants and their clients with self managed
superannuation funds.
Fund Establishment
The Super Group offers a fund establishment service that is comprehensive,
technically proficient and professionally presented. Further, when you
acquire a self managed superannuation fund from us, you also get assistance
with fund structure, technical advice and, if need be, written advice
to satisfy any FSR requirements. (For a copy of our FSG
click here)
An important consideration with any fund establishment service is the
quality of its trust deed. Poorly drafted deeds can often leave trustees
exposed, particularly in times of legislative change. The Super Group’s
deed has been drafted with the help of one the country’s finest
legal superannuation minds - Michael Vrisakis. Michael is a Partner of
law firm Blake Dawson Waldron. He is known for his savvy commercial and
practical application to an otherwise legalistic document. The Super Group’s
deed has been evolving for 11 years. Over this time it has matured into
a flexible, robust, compliant and easily navigated document. It represents
a wealth of experience and practical application.
For more information about Fund Establishment, click
here.
To order a Fund, click here.
To contact us, click here.
Fund Administration
Our fund administration and compliance service offers accountants a solution
to the highly complex and regulated world of self managed superannuation.
Indeed, many accountants have found the service liberating, which supports
our research that a number of them harbour underlying anxieties and concerns
about client fund compliance, and with providing advice post FSR.
Our administration service assumes compliance responsibility for the
fund - no longer do trustees need to worry about fund compliance. Each
fund enters into an Administration
Agreement that clearly states what we do. Importantly, the agreement
warranties fund compliance - provided trustees follow some simple procedures.
This is a unique feature of our service given most administration companies
only offer an “all care no responsibility” year end service.
Under our administration service, the accountant may maintain the Audit
function. This is important for a number of reasons. Firstly, it maintains
the accountant’s link with the fund, enabling them to continue to
comment learnedly on the client’s affairs. Secondly, it succinctly
addresses the “independence” issue. Thirdly, it enables the
accountant to continue to generate fee income. Fourthly, it offers the
client assurance that their accountant is “overseeing” things.
And lastly, this is all achieved with little cost or downside to the accountant
– remember we warranty compliance under our administration agreement!
Another feature of The Super Group is that we deal exclusively in self
managed superannuation. We are not a financial institution that seeks
access to your wider client base, nor are we a dealer group that seeks
to sell investment products to fund trustees. The Super Group is an independent
and privately owned organisation that specialises in self managed superannuation
administration and retirement advice.
For more information on our administration service, click
here.
To contact us, click here.
The Fund Doctor
The Fund Doctor, as the name may suggest, is a service that subjects
a self managed superannuation fund to a compliance “health check”.
It’s a service that is particularly relevant now that the Regulator
has stepped up its audit activity and now that the Superannuation Safety
Amendment Bill 2003 has received assent.
The Superannuation Safety Amendment Bill now requires that auditors notify
the Regulator as well as the trustees of detected breaches or likely breaches.
This is in contrast with the past requirement where auditors only needed
to notify the trustee of detected breaches or likely breaches. It was
only when the auditor was not satisfied with the trustee’s response
or where the breach was material that they were required to notify the
Regulator.
The Fund Doctor service is not an audit in the statutory sense and, therefore,
does not compel “whistleblowing” if a breach is uncovered.
Rather, The Fund Doctor is a pre audit compliance check that analyses
a fund’s compliance and, if needed, recommends solutions.
This service assists accountants help their clients with compliance woes.
To contact us about The Fund Doctor, click here.
Consulting Services
The Super Group’s self managed superannuation consulting services
are particularly valuable under the post licensing regime -where accountants
are now required to walk a fine line between exempt and non exempt advice.
But more than that, our consulting services draw upon many years of experience
dealing with a vast array of pre and post retirement events.
From changing trustees or trust deeds or winding up funds to giving advice
on contribution and pension strategies or death benefit options, our consulting
services are valuable. And, being a holder of an Australian Financial
Service Licence you know the advice we give meets the highest standards.
Independence is always important when seeking advice. Too often when
advice is given, it is given with an emphasis on certain product outcomes.
Because The Super Group is not a financial institution with product objectives,
you can be assured that our advice is impartial.
If you have a particular issue with a client self managed superannuation
fund and do not know where to turn, contact us for advice.
To contact us, click here.
Fund Audit
Are you introducing business risks to your accounting practice when you
do self managed superannuation fund audits?
If you are concerned that you are not as independent as is professionally
ethical or if you are worried that you will be introducing your client
to a competitor through a “you audit mine and I audit yours”
arrangement, we have the solution for you.
We are wholly independent and do not threaten your client base. We service
only the self managed superannuation fund market. Through using our independent
specialists to supplement your own skills, your clients will benefit and
you will enhance your relationship with them.
Free up some more of your time to service your clients better and get
away from the humdrum of auditing super.
To contact The Super Group for a truly independent auditor, click
here.
Types of Accountant that work with us?
- Those who have recognised that specialist knowledge and Application
Systems are essential to the delivery of quality self managed superannuation
services.
- Those who recognise that self managed superannuation trustees really
do not know all that they should and therefore need to be protected
by written agreements and professional relationships.
- Those who wish to protect their clients from mishap or unscrupulous
scheme promoters.
- Those who seek independent non-tied superannuation advice.
- Those who know the risks associated with providing advice whilst remaining
unlicensed.
- Those who lack expertise in the area and feel uncomfortable with promoting
and administering self managed superannuation funds.
- Those who recognise that proactive business and tax advice is more
valuable to their practice than fund compliance.
- Those who are buckling under the pressure of maintaining quality specialist
work over a diverse range of services.
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