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When Cheap Isn't Cheerful | Acis All Areas - September 2016
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Dear Acis All Areas Subscriber

I don’t often choke on my morning coffee, but came close last week when our legal services team showed me a trust deed that had come into the office for review.

There were some serious technical issues with the document, but the greater concern was the financial and reputational risk to which online, automated document providers are exposing professional advisers. This is a major issue for our industry, and I would imagine many of you reading Acis All Areas this month may have a number of ticking time bombs lurking in your offices.

We have prepared a technical piece about the issue of settlors being nominated as beneficiaries, which came up in the deed we received.

 
   P 1800 773 477 
   F 1800 655 556
   M 0413 877 094 
   matt@acis.net.au
We’ve also looked at special purpose companies and outlined why you don’t necessarily need a special constitution for SMSF trustee companies. Our standard constitution will generally do the job for you.

The streamlining of our client system is continuing, with updates to our log-in procedures happening ahead of new integrations. Your feedback about the recent ABN/TFN integration has been positive, and we’ll continue to improve our system’s usability and efficiency.

If you’re attending the upcoming ATSA conference on October 24-25 in Melbourne, please do come and say hi to the team. Our stand is located at B19 in the main exhibition hall. For more information about the event, check out atsaevent.com.au or download this flyer.

Regards,

Matt Neibling
Director
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Latest system update - Single account log-in: Read more

ABN/TFN integration: Read more

Avoid time bombs. Review your trusts: Read more


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