Absolute dog of a business
They lie, steal and everything takes too long. It has taken them over 3 years to close out my SMSF with them. They didn't complete any audits, my ABN was cancelled by the ATO and now I'm under investigation by the ATO because of Squirrel's malpractice. If I could afford too, I would sue them. They should be shut down. They are well known to be scammers.. Why are they allowed to trade?
AVOID!!! Fraudulent, appalling company. Trading while insolvent.
Client of 2 years. Signing up was smooth. No communication from Squirrel following signup. First sign of problems was a call from an Auditor claiming that Squirrel had forged documents for the ATO and that my SMSF had not in fact been audited as claimed. A few google searches shows they have been in administration but have continued to charge their customers. Office is closed. Impossible to speak to anyone by phone. Email communication is returned by essentially blames the client for their own failure.
One of the Worse Companies in this Country
Worse experience of our lives, most unprofessional company my wife and I have ever dealt with.
Bad communication, never return emails or calls,
Were quick to take fees off us but would never comets what was promised.
Please stay away from this company.
They should not be allowed to operate.
Nasty emails and not helpful at all.
They advertised on social media to gain customers, but obviously took too many onboard and got greedy.
Very incompetent company.
Please stay away from them.
Don't even consider them
Absolute worst company I have ever had the misfortune of dealing with. Do not under any circumstances consider signing up as they are quick to take your money but there is no proactive communication, no service and plenty of incompetence and/or theft which will result in loss of your money.
Borderline criminal organization! Sincerely hope the owners go to jail!
Examples of what you get when you sign up:
- Did not receive my initial deposit for signing up and had to chase them for it
- Double charged for annual tax levy and had to chase them ...
An absolute joke of a company
I genuinely can't understand how this company is still allowed to operate in Australia, where are the consumer protections?
For 3 years I paid them over $6,000 to audit my SMSF and submit my returns to the ATO - it turned out they did absolutely nothing the entire time, and now I need to pay another firm to go back through the accounts and get it done.
They lead me on for about 12 months asking for information, often the same information over and over again, and diverted my questions. I've been trying to wind up the fund for over a year and t...hey continually deny that I've requested for them to do so so they can continue to take money from my account all the while. Please avoid this company, don't make the same mistakes everyone else on this page has.
Absolutely scammers and incompetent! Don't do it.
Was with them 2 years. Paid a bit to set up my account, they were great until they got me on the books. Then I was charged $50pw for them to do NOTHING. I kept getting fines from ATO and ASIC every year because they never did my annual review/audit!! Totally slack. I tried to part ways with them but they had some excuse as to why I had to wait until end of financial year. Then I wised up, called by bank, and got them totally blocked so they cannot debit my account any longer. They were none the wiser!
I wish i never used them
Used Squirrel since 2017, and during that time they have: breached the privacy of clients, accessed funds without my approval, and making things hard to wind up fund.
They never commit to a timeframe. Always say they are really busy repeatedly ask for information i have provided.
Their system reports the wrong figures, and they had to redo my returns multiple times due to errors, including putting the names of other funds and fund members on my documents.
The 18/19 return was lodged only within the last few weeks, and when i raise issues they go what issues!
STAY AWAY from this company - i wish i did!
Confused and lost!
I only found out what happened to this company 2 weeks ago from this link: https://www.icaresmsf.com.au/free-transfer-from-squirrel/
Squirrel finished my smsf return only up to 2017 but the new administrator I appointed last week said the 2018 has been lodged with a tax agent and auditor I never knew! What happened? So confusing!
I’m in the same boat as everyone else. They seem to be not in business anymore. Where do we go from here ? Where do we start ? The taxation department gave me an extension on the overdue lodgements but weren’t very helpful on knowing where to go from here.
Incompetent and useless.
They were great at setting up the SMSF (much more expensive than it should be but I was happy with how well they set it up and how easily it was all done). Then nothing.... they continued charging monthly admin fees, did not do any audits and tax returns, difficult to get in touch with them, and when you do they told me they had received an extension from the ATO but could not provide evidence of this (because it was a lie and they hadnt). They keep making excuses for not doing the work, and now my smsf is not complying according to the ATO due...to failure of lodging tax returns and my employer has withheld payments because of this. I've now moved to another accounting firm who are getting it all done. Nothing but a headache with squirrel not to mention the lost thousands of dollars paid to them for nothing...
I set up my sms with these people. Accomodating at first, and then the asic overdue amounts started to appear in the mail. You tell them what the problem is and they tell you they are on to it. The overdue notifications stop for a little while and then they start a few months later. We Aussie are being ripped by all these establishments. ATO and asic. They to are complicit in the forgery.
Completely incompetent, squirrel will set you up and take your money. That’s where it stops they will not complete any further obligations and will not answer phones and emails will bounce . How the bloody hell the ATO hasn’t shut them down is beyond me . Run from them .
Completely incompetent where it counts
Squirrel will take a monthly fee and not deliver an annual tax return. Their compliance department is slow and incompetent. Heed the warnings within these reviews, do not use this service. You will find far better administrators elsewhere!
Just Superfund offer affordable fixed price tax administration and unlike Squirrel dont charge until after the job has been completed.
They also answer the phone and reply to emails. Highly recommend. Justsuperfund.com.au
Squirrel - are they in business?
I have had the same issues as plenty of other reviews, no submission of stat accounts etc and fees coming out and payments to ATO which not even sure were made.
Emails are now bouncing back and website can't be acccesed but they are still taking fees out of account.
Does anyone know how we can go about 1) getting our information from them 2) any class action going on 3) any reputable fund management they are now using to transfer.
Questions & Answers
OMG, just reading reviews. Problems have started to arise so obviously they are robbing me too. How do I change companies?
Hi Jan, I work for SR Group, and we are currently looking into the ASIC findings. Please let me know if you would like more information or would like to chat further.
Kind regards Penny
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