In addition to SMSF administration, Intello can provide administration, reporting and tax lodgement solutions for non-SMSF portfolios including trusts and companies.
Pricing is from $50/m ($600 per annum) for the portfolio reporting which includes preparation of annual financial and tax statements the equivalent of what is traditionally provided by an accounting practice.
The portfolio reporting available online is similar to that of SMSF entities and there is the option of combining the SMSF with non-SMSF entities / portfolios of the client to provide a consolidated 'whole of client' view of their investments.
Tax Lodgement for non-SMSF Entities:
In addition to financial statements, Intello also prepares a tax statement similar to that of a wrap account which makes it extremely easy for third party accountants to prepare the income tax returns for the trust or company.
In collaboration with your client you can determine whether the client's personal tax agent / accountant prepares and lodges the trust or company income tax return or whether Intello undertake it on their behalf.
The annual fee for Intello to prepare and lodge the income tax return for the trust or company is $360.
Total annual cost for a company / trust compliance solution (including tax lodgement) is $600 + $360 = $960.
Intello can assist with the following types of entities:
- Discretionary Investment Trusts
- Discretionary Family Trusts
- Fixed Unit Trusts
- Hybrid Trusts
- Testamentary Trusts
- Investment / Bucket Companies
- Private Ancillary Funds (PAFs)
Intello CANNOT undertake the accounting or compliance work for trading entities that run a business.
See our pricing page for more information on inclusions: Intello - Pricing
Considerations:
Clients will receive the best value from the Intello portfolio service where the the trust or company entity is primarily holds traditional listed investments.
Although we can still undertake the administration and reporting for entities that also hold direct property (residential or commercial), where the trust or company ONLY holds direct property investments, the process of preparing the accounts and annual returns is predominately manual.
In these situations we can have a related third party undertake the work, however the pricing will be quoted separately.
Distributions from Trusts to Individuals:
Where a discretionary trust has to make a distribution, the election on how the distribution is to be made should occur prior to the financial year.
It's important that advisers remind their clients that they are unable to lodge their personal income tax returns until the financial reports and tax statements for their trust has been finalised if they are to receive a distribution.
Intello is unable to consult directly with your clients or provide advice on how best to distribute trust profits.
Personal Income Tax Returns for Clients:
Intello can however provide a solution for the completion and lodgement of personal tax returns where the client has SIMPLE tax affairs such as receiving passive income from investments only. This service is NOT available as a standalone - the individuals must also be members / beneficiaries of an SMSF or trust that Intello provides administration services to.
The fee for personal income tax returns for clients in these situations is currently not a wholesale price - the typical fee is $297 per individual.
Please speak to your relationship manager if you require further information on the Intello Tax services.
Transferring a Trust or Company Entity to Intello:
To transfer a non-SMSF entity to Intello, you will need the following documents:
- Non-SMSF Portfolio Service Agreement
- Direct Debit Authority (where Intello will invoice and debit client directly)
- Data Feed Authority Forms
The above documents can be obtained via the following Help Center article: Getting Started with Intello
For Intello to commence the on-boarding process, please use the 'Transfer SMSF' form via the Intello Portal and select the Entity Type as 'Other'.
Setting up a new Trust of Company Entity with Intello:
The following fees apply to set up a new trust or company with Intello:
- Trust establishment (family / investment / discretionary trust) - $275
- Company (including a trustee company for a trust) - $715
For a new trust with a corporate trustee, total set up fee is $275 + $990 = $990.
To set up a company or trust, please contact us for a copy of the order form.
If you have any questions please email us support@intello.com.au