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In a recent edition of Cuffelinks, there was reference to companies that provide help with administering SMSFs.
The ones named were Class Super, BGL, Super IQ and Supermate.
I run a $3m fund with diverse investments ranging from ASX listed securities, FIIG bonds, property development syndicates, property syndicates and unlisted trusts.
End-of-year scrambling around to provide information to my accountant is hard work, even though I keep good records. Can Switzer Super recommend one of the named companies? I need a service that’s easy for a non-accountant to use.
Can you help with this issue?
A: Class, BGL and Supermate are all providers of super administration software to the industry. Most of the major SMSF administrators (such as Superiq) use either Class or Supermate software to drive their services. Most private accountants use the BGL software.
If you want to use the software yourself, BGL has a solution for Trustees – Simplefund (Trustee edition). This is a “double entry” system – so you will need to know your debits and credits (see www.bglcorp.com). Cost is around $500 for the software.
If you want someone else to do the hard work, then use a professional administrator. By all means consider superiq, also suggest you consider superguardian. You will probably pay in the order of $3,000 pa for these administration services.
Hope this helps.
