SuperConcepts backs tax extension

Self-managed superannuation fund (SMSF) services provider, SuperConcepts has backed a call made by Tax and Super Australia to extend lodgement dates and company tax for personal and company tax FY2018-19 due to complications caused by the ongoing COVID-19 crisis.

Lara Bourguignon, chief executive at SuperConcepts said that the company had implemented a contingency plan in response to COVID-19 within a week of the global pandemic declaration and this included programs that empowered SuperConcepts’ workforce to abide by lock-down practices across three continents.

Following this, the company provided its 800-strong workforce across Australia, India and Vietnam with the support and training needed to help transition to a work from home basis and helped manage all other challenges with regards to of people management, IT and Software updates and personalised customer care.

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“Our dedicated administrative team is not only on track to meet the new 30 June tax lodgement deadline but has also been able to get through a back-log of tax returns from previous years caused by legislative changes in 2017-18,” Michael Pease, general manager of operations and customer service officer at SuperConcepts, said.

According to Graeme Colley, executive manager of technical education at SuperConcepts, there was a keen interest from trustees and advisors seeking extra support and information on how to navigate the changes to legislation for SMSF that were enacted to combat COVID-19 nationally.

“We have had a spike in attendees to our online education programs, with a focus on questions relating to self-managed superannuation funds from both trustees and advisors. These have primarily been about lodgement extensions and early release of funds,” he said.

“Had we not been in such a positive, stable and certain position with our own COVID-19 response, we may not have had the bandwidth to develop tailored responses to our customers’ unique circumstances with such certainty,” Colley said.

 

 




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