Author Topic: Super Trust Deed  (Read 1843 times)

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Offline John Moran

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Super Trust Deed
« on: 08/07/2017, 04:58:53 PM »
Hi all,

I recently received a letter from my super administrator SuperHelp ........... "Due to significant changes with recent Super Reform, we are recommending our clients to update their current trust deed.

In undertaking this trust deed update for all of our SMSF clients, we have been able to access a more competitive rate to update your trust deed for you. This fee is:

* Electronic Copy - $195 (incl.GST)
* Hard Copy (includes CD containing Electronic Copy) - $220 (incl. GST)".

It doesn't sound like a competitive rate to me, more like a rip off.

I'd be interested to hear from others who have a SMSF if they have received similar letters and what competitive rate they are being offered.

Kind regards,
John.

Offline Kelvin Abrahams

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Re: Super Trust Deed
« Reply #1 on: 09/07/2017, 08:17:28 PM »
Hello John
I have forgotten all the details now, however a few years ago I went thru this process of updating our Super Fund Trust Deed.  The costs are in line with my memory and as I am not a lawyer I did not really understand the need for the update but my accountant recommended strongly.  I have had a long and trusting relationship with my accountant so I agreed as you do.
My feeling is that you should go with the flow and enjoy the ride
Kelvin
Kelvin
Brisbane Qld.

Offline Gary Stone

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Re: Super Trust Deed
« Reply #2 on: 09/07/2017, 10:59:31 PM »
John,

My accountant initiated the same in the last 2 months. Cost was roughly the same.

Regards
Gary
On the journey

Offline Don McKinnon

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Re: Super Trust Deed
« Reply #3 on: 10/07/2017, 05:27:43 PM »
Hi John

The cost looks good to me as my service providor charges more than double yours for a trust deed update.  However they haven't recommended doing so (yet) as a result of any recent changes.  I've been finding that my service has quite good charges for basic regular services but charges higher for one-off services.

If I were you, I'd certainly be asking what are the specific reasons for the request to renew the deed, because often the drivers for these changes are not necessarily to improve your legal situation or efficiency for you, but someone else's.  A valid reason for changes can be an accumulation of various issues over a period of time if it has been many years since the last upgrade.

Regards
Don


Offline John Moran

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Re: Super Trust Deed
« Reply #4 on: 12/07/2017, 07:42:50 PM »
Thanks guys for the replies. I feel a bit better now that I know the pain is being shared around. :wave:

Kind regards,
John.