We are specialists in Self Managed Superannuation Funds (SMSF). We can assist with all aspects – from set up to year end compliance, including ongoing administration where required.
We have a comprehensive understanding of how and when to apply relevant strategies relating to SMSFs. This includes taking into consideration potential implications on your financial circumstances outside of Super. SMSFs can be very effective retirement savings vehicles when used properly. Our experience has shown not many trustees are utilising SMSFs to their maximum potential, despite in some cases having established a Fund under the guidance of an accountant and/or financial planner.
SMSF Set up
We can provide support in the following areas:
- Preparing all the relevant documents to get your fund up and running, including the Trust Deed, Trustee and ATO Declarations.
- Australian Business Number (ABN) and Tax File Number (TFN) applications to the ATO to ensure your SMSF is appropriately registered.
- Assistance with formulating an Investment Strategy.
- Binding Death Benefit Nominations, which instruct the Trustees on how your Super should be distributed on your death.
- Setting up an everyday cash account facility.
- Rollovers of any Superannuation benefits you hold to your SMSF.
We actively encourage people to seek advice from a suitably qualified financial adviser before establishing an SMSF. Whilst SMSFs can be fantastic retirement savings vehicles, they are not suitable for everyone. At Tax and Super Direct, we are not afraid to recommend consideration of alternative superannuation vehicles (e.g. Industry, Retail funds) where we draw a conclusion an SMSF may not be appropriate given your individual circumstances. We can do this without any institutional and/or product bias.
SMSF Accounting and Administration
We provide comprehensive assistance with all aspects of SMSF accounting and administration including:
- Completion of Annual financial statements and returns, and audit.
- Preparation of all paperwork (including minutes of meeting, contribution declarations, etc) required to comply with the relevant Superannuation and Tax laws.
- Administration of pensions where applicable.
All engagements will be on a fixed fee basis. There will be no hidden charges for preparation of minutes and declarations to ensure the Fund remains compliant with the regulatory requirements at all times.
Our compliance reviews allow us to identify issues or opportunities to further maximize benefits within your SMSF. We can address these as part of the Planning process.