In early April of this year, the ATO issued a Practical Compliance Guideline, PCG 2016/5. The guideline deals with related party loans under a limited recourse borrowing arrangement (LRBA). The guideline outlines the “safe harbour” terms that SMSF Trustees may follow in structuring an arm’s length related party loan under a LRBA before 30 June 2016.
Author Archives: Kerrie Salvatore
SMSF Trustee record keeping responsibilities (video)
One of your responsibilities as a trustee is to ensure proper and accurate tax and super records are kept.
Need help with your record keeping responsibility? Contact us now!
Dorothy and Lukasz Wozniak
“We had a major issue with our self managed fund and had no idea how to resolve this. We were directed to Concise Super and initially we thought they probably were just another company that wanted to take our money and run. However we hired them to take care of the issue as we were impressed with their approach and impressed on how they delivered the work they did. They are the most dedicated couple in this field. Very respectful, honest, direct, and extremely organised. My husband and I were fully informed and they made sure that we understood every step of the way. If we had any questions they were always enthusiastic to assist with no hesitation. We highly recommended them and are very satisfied with the service they have provided us. Kerrie and Fab, we are extremely delighted that we have had the opportunity to have you assist us with our new Super.”
~ Thank you always Dorothy and Lukasz Wozniak, SMSF Trustees
Gerrard B
“I truly don’t know where to start. Perhaps a HUGE thank you to Kerrie and Fabio for all the tremendous work they have put in to sorting out my SMSF mess. Nothing was ever an issue for either of them. I was never spoken down to and their working solutions are mind blowing. Don’t doubt yourself with Concise Super, you will be more that pleasantly surprised.”
~ Gerrard B, SMSF Trustee
Annual Compliance
We turn your source documents into a Concise Compliance Package consisting of;
- Annual Financial Statements
- Member’s Statements
- Annual Returns
- Relevant Minutes
- Coordinate audit process with preferred Auditor or recommended Independent Auditor
- Secure electronic storage of records
Concise Super can arrange the right documentation for compliance requirements.
These include;
- Actuarial Certificate
- Business Activity Statement
- Fund Wind Up
Specialised Administration Services
From time to time there may be specific documentation that a Self-Managed Superannuation Fund is required to have for various transactions that occur during the lifecycle of the Fund. These can range from when you set up the Fund to closing the Fund.
Concise Super can arrange the right documentation for the right transaction. These range from;
- Establishment of a new Self Managed Superannuation Fund
- Roll over statements
- Lump Sum payments
- Pension & Transition to Retirement
- Actuarial Certificate – co-ordinate with Actuary service provider
Superannuation Tax Advice
Superannuation legislation is complex and regularly changing, Concise Super can provide the technical support in those “grey areas” adding value to Accountants and Advisors client service.
We encourage all our clients to call and email us frequently regarding any matter to their SMSF, we we can alert you of any compliant responsibilities and/or actions that are required.
Online Access
Concise Super provides online access to your Fund. We regularly update your Fund via electronic data feeds from your bank account providing you with “real time” access to your Fund. Ask us today about how you can get access to your Fund.
Online access features:
- Member contribution and pension dashboard
- Investment dashboard and reports
G. Sandonato
“My husband and I have been clients of Fabio and have no hesitation in recommending his services. He has assisted with setting up and running our self-managed superannuation fund, organising our annual auditing and completing our SMSF tax returns, and we have always been very satisfied with the results. We have been very impressed with the personalised and professional service and advice, the attention to detail and the willingness to answer all our questions. We look forward to a continued relationship with Fabio and Kerrie.”
~ G. Sandonato SMSF Trustee
Graham Haydar
“br Wellington and Concise Super have been working together since May 2013. We have found Fabio to be very knowledgeable in all aspects of superannuation legislation and compliance matters. Our team of accountants find it very easy dealing with Concise Super for all of our clients SMSF’s compliance matters.”
~ Graham Haydar, Director brWellington