A better solution for Self-Managed Super Funds (SMSF)
More than ever, Australians are choosing to have control over their retirement funding with a Self-Managed Super Fund.
It’s important to understand that an SMSF is not just about accounting – it is also a wealth creation vehicle that should be properly established and managed.
When setting up and running your Self Managed Super Fund (SMSF), one of your most important decisions is choosing your SMSF administration provider to help guide you through the process.
The compliance element of super is complex and administration services vary widely in what they offer.
At Smart Money Company, we want our clients to have access to the best superannuation service available. Smart Money Company is a complete SMSF administration service designed to ease the burden of compliance and paperwork and provide you with peace of mind.
Why consider Smart Money Company Super?
- You want to minimise the burden of being a trustee
- You want more than just audit, tax and accounting capabilities
Smart Money Company Super offers the following benefits:
- Facilitate the Set up your trust correctly
- Receive all mail correspondence and manage all administration
- Assist you to develop your investment strategy
- Ensure that your SMSF is fully compliant with all government regulations
- Provide you with real-time reporting online, every day
What should you look for in a best-practice SMSF and why?
Surprisingly, there are no set standards governing the superannuation administration service industry. At Smart Money Company, we believe that there are some critical elements you should consider when choosing your SMSF administration provider.
- Know exactly what you are getting
Are you paying a complete fee but getting only half the service?
From storing and maintaining a record of your documents to tracking your contributions to ensure that you remain on the right side of regulation to avoid onerous fines, with Smart Money Company, you can rest easy in the knowledge that we take care of all the necessary hard work.
- Have the paperwork managed for you
New SMSF trustees often remark on the large volume of paperwork that needs to be dealt with. As a layperson, it is difficult to know what is important and/or urgent. As a trustee, you are responsible for acting on and maintaining a record of all documentation. In the event of a flood or a fire, vital documents can be lost. With Smart Money Company, all your SMSF documentation is centrally managed by our cloud-based professional mailing service. We receive the mail, act on it and organise its storage and archiving.
- Get online, real-time access to information
Many people with their own SMSF are unaware of their exact financial situation until the end of the financial year. Because of this, they wait until they receive a statement and then they pay their superannuation contribution on June 30. This is an outdated practice and can result in losing out on months of potential growth. With Smart Money Company you see real-time reporting, online, every day.
About SMC Super
Tired of the burdens of administering your Self Managed Super Fund?
Welcome to Smart Money Company – the unique cloud-based system that will take the stress out of managing your own Self-Managed Superannuation Fund.
With Smart Money Company, you are the chairperson of your SMSF – not the administrator.
Smart Money Company is creating innovation by the automated processing of all of your daily SMSF transactions – keeping you informed and allowing you to make smart decisions for you and your family’s financial future.
No more worrying about whether you are maintaining a compliant fund – Smart Money Company brings everything together and reconciles your fund transactions on a monthly basis, making sure that the required documents for regulators, the ATO and other related parties are correct and lodged on time.
Too many trustees have told us that they have no idea of where they are at any one time – this no longer needs to be the case! – with your own personal dashboard, you will be able to access a snapshot of your fund investments at any one time.
Having this information at your fingertips allows you to see if your strategy is on target or when action is needed.
And the best thing about Smart Money Company – all of the daily management is carried out at a very competitive price, paid monthly for your convenience.
Smart Money Company ends the big ticket fees that are commonly associated with running your own Self- Managed Superannuation Fund.
What if you don’t have an SMSF?
The first steps are easy – if you haven’t already set your SMSF up, we can facilitate this for you, in a fast and cost-effective way.
Your trust deeds, statements, forms and member’s documents are prepared for you so that you can then request the rollover of your current fund assets.
The compliant documents are sent to you either by post or in an electronic format.
How does SMC Super work?
Smart Money Company Super is all about minimising the burden of being a SMSF trustee.
Starting an account with Smart Money Company Super is easy and quick. Our online wizard will take you through the steps required to create your own personal and secure dashboard.
Your Smart Money Company dashboard brings together everything you need to manage your fund account. All the transactions are inter-connected, streamlined and talking to each other.
Once onboard, you can access all of your fund records from the current or previous year, simply by clicking on the relevant documents.
The dashboard will allow you to see a snapshot of your overall investment portfolio. You are in full control and able to see all of your investments in one easy display – you can review your investments to keep in line with your investment strategy, or change the strategy itself, all through our tools, online.
All of your documents (contract notes, dividend statements and distributions) will be held in secure storage so there is no need to worry about all of the paperwork that you need to file and retain for tax and compliance purposes.
Smart Money Company Super reconciles your fund assets regularly throughout the year so you always know if your strategy is on track.
You will stay ahead of the compliance requirements as Smart Money Company Super is always up-to-date with regulations and the laws which govern the superannuation industry.
Regular administration, accounting and lodging of BAS statements on time, tax returns and annual audits are all part of the SMC Super service.
Smart Money Company Super will look after your contribution limits, so no need to worry about paying extra tax. When you move into pension mode, you will know the amounts required to be drawn in the financial year, making it easier to manage your ongoing cash flow needs.
With Smart Money Company as your business partner, your SMSF will remain compliant and simple to manage, so you can get on with enjoying your life and building your financial future.
Smart Money Company Super can be managed with one convenient monthly payment.
Who can use SMC Super?
Smart Money Company Super’s unique integrated cloud-based workflow solution connects all the parties involved in the administration, accounting and auditing of Self Managed Superannuation Funds, allowing them to work seamlessly on the same system, increasing process efficiencies and greater savings across the business.
Through this ‘one system’ solution, Smart Money Company Super has been able to remove much of the duplication and retention of data, multiple system reliance, and significant portions of erroneous and time-consuming manual entry.
The system and data is securely available from any Internet-connected site and through a robust and secure permissions-based structure allowing all participants to access the information they need based on their role and authority.
Accountants and Administrators
Accountants and Administrators can employ Smart Money Company Super for the end-to-end administration of their clients’ SMSFs and ensure that their clients’ funds are kept up to up to date on a quarterly, monthly or even daily basis.
Quarterly and end of year reports can also be quickly and effortlessly prepared through an intuitive and largely automated process.
Where permitted by the fund Accountant or Administrator, the fund Auditor can gain remote access to a fund’s information including transaction histories, electronic source documents, financial statements and the fund’s audit trail.
Smart Money Company Super has a rigorous quality assurance process, working actively with regulators and other relevant industry bodies to ensure compliance and maintenance of strict audit guidelines.
Accuracy and visibility around the application of business rules, audit trail and transaction history are a core focus – delivering efficiency and accuracy to end of year audit processes.
Financial Advisers are able to provide timely and informed advice to clients based on “real time” information about the fund’s current financial position, using Smart Money Company Super’s online reporting capabilities.
Advisers can subsequently use this capability to be far more proactive and agile in their recommendations than is traditionally the case when dealing with SMSFs.
Smart Money Company Super provides fund Accountants and Administrators with 24/7 web access also available to fund members and trustees at no extra cost.
Through this service, trustees are able to make informed and timely decisions about their fund’s strategy and underlying investments based on an accurate and complete picture of the fund’s financial position.
With Smart Money Company Super, you are the chairperson of your SMSF – not the administrator
Whether you want to set up a self-managed super fund or you already have one that is not meeting your needs, we invite you to go to contact us to see how we can ease the burden of SMSF management for you.
Please note that Smart Money Company does not provide tax advice. It is important that your personal circumstances are taken into account and you should consult with your own independent tax professional.