GeersSullivan would like to send you on a holiday !

GeersSullivan has received its AFSL

As of 1 July 2016 all advisors who wanted to give advice on Superannuation were required by ASIC to hold an Australian Financial Services Licence (AFSL).  Prior to that date all Accountants (in Public Practice) had the necessary skills and qualifications to advise clients on the establishment of Self Managed Super Funds, how much you could contribute, when to transition to retirement or when to draw a pension.

The application process was exhaustive and nearly 12 months since our application was submitted, ASIC has granted our licence.

Only 1,181 licences were applied for Australia wide and only 523 licences have been granted.  To put this into perspective, there are 74,911 registered Tax Agents in Australia, meaning less than 0.7% are now able to give SMSF advice.

GeersSullivan has recognised for well over 10 years that SMSFs are a specialised area, which is why we have a specialised SMSF Team, led by the Directors of GeersSullivan and Helen Cooper, the Senior Manager of our SMSF Division.  On 1 July 2016, ASIC implemented laws that recognised the same.

What does this mean?

GeersSullivan SMSF Advisory Pty Ltd now holds an AFSL which allows our Senior Team to continue to give advice on:

• The Establishment of a SMSF
• Making contributions to your SMSF
• The appropriateness of certain investments in your SMSF
• Transferring assets into your SMSF
• Borrowing in your SMSF
• Transitioning to retirement
• Starting a pension
• Structuring your fund to minimise the tax it pays both now and upon the passing of a member

Who can give advice?

Only those who hold an Australian Financial Services Licence or are authorised under a licence holder can give advice on SMSFs.

It is now illegal for anyone else to give advice on SMSFs.  ASIC have already contacted hundreds of trustees of newly established SMSFs asking for information on who and how they were advised to establish their SMSF and penalising Accountants who gave unlicensed advice.

What is now required in order to give advice?

As a result of the laws imposed by ASIC, this is now the process for a licenced Advisor to give advice:

• Initial Meeting – we meet with you to discuss the services we are able to provide and the process required to allow us to provide advice to you
• Providing you with our Financial Services Guide (FSG)
• Fact Find – we need to gather information about you, to determine your current financial position and the financial goals you have
• Providing an Engagement Letter setting out the terms of SOA engagement and fee
• Statement of Advice – we prepare and then present to you our recommendations on the best way for you to proceed
• Implementation – upon your acceptance of the Statement of Advice, we will implement the agreed strategy

We really appreciate your referrals

We always appreciate the referrals we receive from our clients – it’s how our business has continued to be successful over the last 14 years.

To celebrate our new licence, for the next six months we would like to reward you for your referrals by sending you on a holiday.

If you refer a friend or family member of yours to us, who has an existing SMSF, we will send you and a travelling companion of your choice to either:

1. Melbourne – staying at the Crown Metropol for 2 nights; or
2.  Crown Towers in Perth for 2 nights with a $1,000 Crown Voucher to enjoy during your stay or any other time over the next 12 months.

If you refer a friend or family member of yours to us, who establishes a SMSF with GeersSullivan, we will send you and a travelling companion of your choice to either:

1.  Singapore, staying at the Marina Bay Sands for 4 nights; or
2.  Bali, staying at the Seminyak Beach Resort for 5 nights.

*Please note that Terms & Conditions apply.  Please contact our office for more details.

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Perth’s New Ronald McDonald House opened by Premier Colin Barnett

GeersSullivan has a proud relationship with Ronald McDonald House Charities which began not long after we started our business in 2003.  From that time we have been a major sponsor of the RMHC-Mercedes Benz Ball, provided support to the organising committee by making our office available for meetings, giving administrative support and also through my role as Treasurer from 2004 to 2013 and Candice Kennedy’s role as Treasurer from 2014 onwards.  Our Team has cooked for the “Make-a-meal” Program many times and from 2014 I have been a member of the Board of Ronald McDonald House Charities in Western Australia.

It is a privilege to work with the dedicated and amazing people who work at, volunteer and support the House in Perth.

On Friday 4th December, Premier Colin Barnett opened the new $27 Million Ronald McDonald House Perth on the QEII medical site adjacent to the new Perth Children’s Hospital in Nedlands.

After 25 years in Subiaco, the Ronald McDonald House Perth has been relocated to a state-of-the-art House with capacity to accommodate nearly three times as many seriously ill regional children and their families.

The new Ronald McDonald House Perth now hosts 47 family rooms which can accommodate up to 220 people each night, and assist over 800 families each year.

With this significantly upgraded capacity, less families risk being turned away in their time of most need and are able to call the House their home-away-from-home.

The ‘Stronger Together’ Capital Campaign was instrumental in fundraising for the new House with over A$27 million raised since it launched in 2013.  Funds needed to commence building were raised within 15 months of the launch of ‘Stronger Together’.

The WA State Government recognised the significance of RMH Perth and the services it will continue to deliver to regional families with a $13 million contribution towards the project – a Lotterywest grant of $8 million and Royalties for Regions contributing $5 million.

Western Australia’s business community has dug deep to put the needs of seriously ill children first: BHP Billiton is the largest corporate donor with a $5 million contribution; Fortescue Metals Group raised $3 million from directors, employees and staff fundraising; and Mission Partner McDonald’s WA licensees and its corporate community have come together to donate $1 million.

Ronald McDonald House Perth Executive Officer Peter King said he was overwhelmed by the generosity of the Western Australian community, who made the dream of building the new House a reality, by raising all the funds in just 15 months.

“We are an independent charity and rely on donations from the Western Australian community, so we cannot wait to show everyone what their support has really done,” Mr King said.

“The Subiaco House has assisted 3,500 families since it opened and our new House is all about providing that extra security and support and meeting the demand for many years to come.”

The new House is an energy standard LEED rated building and offers two fully self-contained isolation units, a commercial kitchen and laundry, gym and conference facilities, a rooftop garden, teen den and a recreation rooms. Rooms are fitted with wall mounted foldaway bunk beds, bathrooms and even bacteria neutralising wall tiles to keep the environment healthy within the House.

Staying at RMH Perth is also an opportunity to offer a strong support network by creating a sense of community though interaction between families and patients, allowing them to relate to each other’s situations.

I’d encourage you to go to the RMHC Perth website and learn more about this amazing charity, contact me directly on (08) 9316 7000 or andrew@gscpa.com.au and I’d love to talk to you about it or even arrange a tour for you of the new House.

All the very best,

Andrew Sullivan

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