Take Control of Your Superannuation

Unlike retail or industry funds, a SMSF is set up and managed by you directly.

By taking control of your Super, you not only have the ability to make decisions that are important to you but also take on the duty of looking after the fund. 

It is absolutely crucial to make sure that all regulations are followed, which also involves going through annual audits. Even though managing your own SMSF might be challenging, it can also be a rewarding and a good experience with the assistance  from a SMSF Tax specialist or SMSF accountant.

HOW WILL A SMSF WORK FOR ME?

Establishing an SMSF

SMSF APPLICATION
Once you have carefully reviewed all available investment advice and decided to proceed with establishing your own SMSF, our Partner - SMSF Tax specialist - will provide you with the SMSF order form. Upon completion, they will take care of the rest. At the end of the process, your SMSF will have an ABN, TFN, bank account, and broker account.

SMSF TRUSTEES
You can choose between Individual Trustees or a Company Trustee to act on behalf of your SMSF. The SMSF Tax Specialist will work with you and will facilitate the setup of a Company Trustee (recommended) with you as a director and act as ASIC Agent/Registered Office for the Trustee Company.

CONSOLIDATING FUNDS
Our partner can assist in the process of transferring your existing superannuation balances to your new fund and consolidating them if multiple funds are involved.

INSURANCE
They can identify any existing insurance policies within your current superannuation and help you consider appropriate insurance needs.

SMSF MANAGEMENT AND ANNUAL COMPLIANCE
Once your SMSF is established and operational, our partner will ensure its compliance and manage the fund on your behalf. This includes:

  • BOOKKEEPING+ RECORD KEEPING SOFTWARE
  • PREPARATION OF COMPREHENSIVE FINANCIAL STATEMENTS AND TAX RETURNS
  • ARRANGEMENT OF AUDITS
  • REGULAR REVIEWS OF SMSF ADMINISTRATION to ensure the application of appropriate tax strategies, enabling you to receive all entitled benefits
  • TRANSPARENT ALLOCATION OF RESOURCES

Running an SMSF

Once your SMSF is set up, you can:

  • Transfer your existing superannuation benefits to your SMSF
  • Commence employer contributions to your SMSF
  • Make investments in various asset classes, such as shares, properties, and more, through your SMSF
  • Make personal contributions to your SMSF
  • Obtain insurance through your SMSF
  • Commence a pension within the SMSF (if eligible)

SMSF Investments

With a self-managed super fund, you have the opportunity for more direct investments in different asset classes, allowing you to play a more active role in shaping your financial future.

Before making investments, it is crucial to have an Investment Strategy that outlines your fund's investment objectives and specifies the types of investments it can make. While we cannot provide an Investment Strategy for you, we can connect you with partner advisers who specialize in Investment Strategies for SMSFs. If your Investment Strategy primarily involves acquiring investment real estate and borrowing to achieve this, additional documentation will be required. We can arrange this and coordinate with solicitors in our partner network to ensure all conditions are met.

By considering a self-managed super fund, you regain control over the superannuation decisions that others typically make as part of a collective strategy. This opens up access to personalised advice and opportunities

CAN YOU ANSWER THE FOLLOWING 5 QUESTIONS WITH A 'YES'?

YOU HAVE A DESIRE FOR GREATER FINANCIAL CONTROL?
If you wish to actively participate in all decisions concerning your money and savings, an SMSF may be the ideal solution.
YOU (AND YOUR PARTNER) HAVE HIGH ENOUGH SUPERANNUATION BALANCE?
To ensure your fund can handle administrative costs, it is recommended to have approximately $250,000 available for investment or rollover. This could be you and your partner's combined Superannuation balances.
ARE YOU READY FOR THE ADMINISTRATIVE RESPONSIBILITIES?
Managing an SMSF requires a serious commitment to compliance and annual audits. Securing an accounting partner is vital, as managing the fund alone is not feasible.
ARE YOU READY AND ABLE TO HANDLE TAXATION?
Maintaining tax compliance for your fund and minimising tax obligations necessitates a solid understanding of ATO regulations and SMSF tax laws. Our expert accounting partners are here to assist you in navigating the complexities of taxation.
DO YOU HAVE GOOD UNDERSTANDING OF INVESTMENT PRINCIPLES?
A sound understanding of effective investing is crucial for the success of your SMSF. While experts can offer advice and guidance, it is essential for you to be able to comprehend the performance of your investments and make informed decisions.

YOU MIGHT BE READY TO START YOUR SMSF JOURNEY

 

 

"The team at SMSF Mortgage Specialists really took the lead to help us setting up the SMSF and establishing the SMSF loan. We couldn't have done it without them."

- Anonymous