Products

ARC Super offers a variety of Superannuation products to assist which can be purchased from our website. Click on the products below or contact us to learn more:


ARC Super SMSF Audit Toolkit

 

ARC Super SMSF Audit Toolkit (Cost $165)

Recent changes to the SIS Act see Australian auditing standards and Accounting Professional and Ethical Standards now having force of law with regards to SMSF audits, with non-compliance with such exposing auditors to potential loss of registration.

It is not uncommon for auditors to simply rely on audit software or other ‘off the shelf’ SMSF audit tools to conduct their audits, begging the question, if this is you, how would you know if you are complying with your mandatory requirements?

 

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ARC Plus

 

ARC Plus is the annual subscription providing the one-stop-shop to assist SMSF auditors with all their audit needs. ARC Plus offers three levels of membership with the basic membership (ARC Plus Blue) complimentary. Listed below is an overview and the benefits offered by ARC Plus.

 

Membership Benefits

 

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ARC Super LRBA Documents

 

ARC Super LRBA Documents
A Limited Recourse Borrowing Arrangement (LRBA) involves a SMSF borrowing to purchase a single acquirable asset (SAA) that is held in a separate holding (bare) trust.
The SMSF trustee acquires a beneficial interest in the asset with the trustee of the bare trust being the legal owner of the asset.

Investment income received goes to the SMSF and if the fund defaults on the loan the lender’s rights are limited to the asset held on trust, ensuring there is no recourse to the other assets of the SMSF.

Key facts
Key facts to consider relating to a Limited Recourse Borrowing Arrangement:

  • It is the trustee of the SMSF that is the borrower;
  • The money (borrowing) must be used to acquire a Single Acquirable Asset (SAA);
  • Borrowings can be used to repair the SAA provided the asset is in need of repair at the time of acquisition; and
  • Borrowings can never be used to improve the SAA, however the asset can be improved with the fund’s own money provided the improvement does not change the character of the asset;
  • The SAA must be held on trust so that the SMSF trustee acquires a beneficial interest in the asset. In other words, it is the bare trust trustee(s) that is the acquirer and owner of the SAA.

 

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Trust Deeds

 

Trust Deed and Compliance Package

A SMSF begins with a Trust Deed or Rules which are the foundation of the fund governing what the trustee is authorised or prohibited to do. Superannuation laws require the trustee, advisers, and any other person advising the trustee to ensure compliance with the Rules. The superannuation laws also require the trustee to maintain minutes, for ten years, of all trustee meetings in which all matters and decisions affecting the fund are considered. This places a great responsibility on the trustee and others providing services to the fund to ensure that decisions are adequately recorded and documented in line with legislative requirements. The strategic features of our SMSF trust deed include:

  • An intelligent membership clause that allows anyone to join the fund
  • Contributions allowable in line with prevailing superannuation laws
  • Wide range of pensions including the ability to run a combination of pensions
  • Flexible succession planning
  • The ability of the trustees to create and run various reserve accounts


ARC Super Pension Documents

 

ARC Super Pension Documents (Cost $165)

According to superannuation legislation, a benefit payment is only a pension where it is provided under the rules of a superannuation fund that:

  • Ensure that payment of the pension is made at least annually;
  • Require the total payments in any year to be at least the minimum amount required by regulations; and
  • Do not permit the capital supporting the pension to be added to by way of contribution or rollover after the pension has commenced.

 

According to the ATO, in addition to above, a pension commences when each of the following has occurred:

  • All the capital supporting the pension payments has been rolled over to create the relevant pension interest; and
  • The terms and conditions, including the commencement date, of the pension have been agreed between the trustee and member and recorded in the rules of the pension.

 

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