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
Freehills. He is known for his savvy commercial and practical application to
an otherwise legalistic document. The Super Group’s deed has been
evolving for more than 15 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 assisting clients
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 “audit 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 contraventions or likely
contraventions. This is in contrast with the past requirement where auditors
only needed to notify the trustee of detected contraventions or likely
contraventions. It was only when the auditor was not satisfied with the
trustee’s response or where the contravention 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 contravention 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 fact and 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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