This unique software package simplifies the task of administering Self Managed Superannuation Funds (SMSF) by dealing with a wide range of taxation and superfund accounting issues and at the end of each financial year, produces a full set of taxation and compliance reports.  

But how does that benefit you?

Quality 

Enjoy peace of mind knowing that critical financial data is being managed by a system of the highest quality.  Regular up-dates with ever-changing statutory requirements ensure that your clients’ funds continue to remain compliant.  You will no longer need to remember to update spreadsheets and templates that run off your old software.  The hard work is done for you.

Want to make sure the system has performed calculations correctly?  Then review easy to follow, detailed underlying data reports that audit the tax effect calculations and other taxation and superannuation business rules.

Got complex funds and need a flexible approach to investment policies?  Then this system is for you.  It provides you the options and then takes care of the complexity, providing you with high quality and informative financial and investment reports.  With the complexity taken care of, you then have the time to be proactive and review CGT outcomes with different strategies before posting.

Profit 

Gain whole job cost reduction which in turns leads to more Profit.  Grandfathering rules, tax components, preservation components, tagging for Member Contributions Statements, tax free percentages, death detriment calculations, increasing investment vehicle complexity and marriage split rules – superannuation funds aren’t easy.

Growth

Superfund will help you to grow your SMSF business by offering new services without the constraint of staff recruitment and extensive training.

The system will do much of the complex work for you with calculations and investment know-how built into the software.  Your growth will not be limited by the need to bring on new staff as they will find Superfund easy to learn with its familiar Windows® user interface designed for ease of use.

Powerful corporate actions functionality including mergers, de-mergers and stapled securities are included with the system and automated upload of data make it straight forward to move to a daily processing model when required by your clients.  Meet client needs with Superfund’s sophisticated pensions’ capabilities and the ability to support both segregated and pooled funds.

Each transaction needs to be entered only once into Superfund and tax effects are tracked on an entry-by-entry basis. This allows all reports and member balances – including all taxation implications – to be reported at the press of a button. Supercorp Superfund deals comprehensively with all taxation issues including:

• Handling of taxable, tax exempt and tax paid income
• Accurate, automatic calculation of CGT obligations as well as deferred capital gains tax resulting from asset revaluations, discounted gains and recoupment of losses 
• Tax deferred/building depreciation amounts plus treatment of capital gains tax (CGT) effects 
• CGT losses and profits offsets 
• Franking credits and handling of Excess franking credits 
• Foreign tax credits and Tax File Number (TFN) withholding tax 
• Form F tax return labels are calculated by the system and printed or a file can be created for electronic lodgement

Year-end compliance reporting

Supercorp Superfund is designed to be a one stop shop for all end of year reporting tasks associated with managing super funds.  Superfund will produce:

• Financial statements in accordance with AAS25 
• Schedules outlining members’ account movements, income tax reconciliations and deferred tax reconciliation 
• Annual Member Statements 
• ETP Pre-payment Statement 
• ETP Roll-over Statement 
• SMSF Tax Return 
• Member Contribution Statement Reporting
• PAYG and DASP Reporting

Superfund Accounting

Superfund tracks investments and member account balances and simultaneously maintains the general ledger for the fund. This is done without the need for additional processing, allowing the following ledger reports to be produced quickly and easily at any time:

• General Ledger 
• Trial Balances 
• Audit Trails 
• Investment Listings 
• Cash Books

Superfund member management

Supercorp Superfund manages and tracks all member account information.  A large amount of detail can be captured and used within the system including:

• Detailed member information such as member details, tax records, insurance records and benefit history
• Contact, address and other records can be linked between members and associates 
• Detailed records of associated third parties such as financial advisor, solicitor etc
• The system supports segregation of assets by allowing assets to be specifically allocated to an individual fund member 
• Breakdown of members’ account balance showing vesting, preservation and rate of return 
• Detailed member statements and reporting  

Powerful Pension capabilities

• The ability to support and view multiple pensions and pension types for each member 
• Automatic commutation of lump sum withdrawal calculations and reversion processing
• A simple review process. The system automatically calculates a member’s current pension entitlement, taking into account legislative limits and tax effects 
• Automatically formatted Centrelink reporting 
• A pension wizard that provides a simple approach to the creation and management of pensions

Corporate Action Management

Superfund Corporate Actions provides an easy process for managing bonus and rights issues, consolidations, calls, de-mergers and other corporate actions.

Investment Transation Upload

Transactions include interest, dividends and trust income and they will be posted directly to the appropriate accounts in Supercorp Superfund - saving you time and money.