Our Service Offerings
Compliance services refer to the preparation of the annual Special Purposes Financial Accounts, preparation and lodgment of income tax returns, support provided to SMSF trustees in exercising their duties (such as preparation of the minutes of meeting, pension documents, liaising with the SMSF’s auditor, etc); assistance provided or preparation and lodgment of your Business Activity Statements; and preparation and lodgment of your annual company statement and other associated forms with ASIC.
Typically, we will have an annual meeting with clients to discuss through the compliance matters unless the clients feel that this process is not necessary due to the fact that their financial affairs and/or income tax returns are straight forward and without any issue.
Planning and Strategies
Embedded in our internal review process is exploring appropriate strategies that can be adopted for the client. The strategies could range from Improvements to your existing record-keeping process to asset protection strategies.
We would usually explore these strategies initially with you at the Annual Meeting and where the strategies require more work, we will discuss with you on the scope of the work to be undertaken.
As part of your annual report, we can include financial analysis such as your consolidated financial position (total net assets), return on investments (or assets) for the year with past year(s)’ comparatives, asset allocation and other analysis as appropriate. We encourage clients with substantial assets to select this as part of their annual service package as we have found this to be of great value to clients.
As an option, you can also include as part of the annual service package, periodic reporting of the financial analysis on a quarterly basis or half yearly basis.
Initial planning and strategies discussions with you may point to the need to review your Estate Planning matters; or there may be a need to review your Business Succession plan. In addition, we have developed expertise in handling a large part of deceased estate administration.
Mancell has over 30 years’ experience assisting families to work harmoniously together to stay organised, develop and execute clear plans, and ultimately achieve the family goal.
Our overriding objective is to align your family values with your family’s wealth, and to build a sustainable, prosperous plan for the future. While every family is different, their goals are usually similar.
With so many services to keep track of, we need to ensure that your needs are managed efficiently and with as little of your time as possible. Many of the services that Mancell currently provides can be enhanced with our Family Office service offering. We can alleviate the extra burden of having to manage a family business, potentially complex family relationships, and all of the additional organisation that is required.
A large component underpinning the service clusters is the record-keeping functions that we provide to our clients. This ranges from maintaining all of your records pertaining to your investments (in an online investment software platform that allows viewing access), to keeping your Wills and Powers of Attorney in our Safe.
Standard Annual Packages
Our standard Annual Package would usually include a large part, if not all of the elements of the Compliance Services, some elements of Record-keeping (for example, updating and maintenance of your Investment Portfolio in the cloud software platform that provides for capital gains tax records amongst other functions), Financial Analysis, Planning and Strategies which are usually delivered and discussed at the Annual General Meeting and/or a Year-End Planning meeting.
Non-recurring work can take many forms, ranging from our assistance in transitioning from existing accounting software to Xero, to Deceased Estate administration. It may also involve dealing with a technical issue which has a high non-compliance risk, in which case we will work together with one of our numerous alliances in order to resolve the issue.