SMSF ACCOUNTANTS SYDNEY
A Self Managed Super Fund (SMSF) is a private superannuation fund. SMSFs allow you to control your finances and make your own decisions when it comes to saving for your retirement.
SMSFs can have as many as four members, who serve as trustees and take full legal responsibility for the fund’s operations.
Because SMSFs must abide by strict rules and regulations involving the many complexities of tax and financial law, it is important to get the best advice you can on whether and how to run an SMSF in a way that suits your long-term needs and interests.
At Superfect, we provide services specifically for SMSF trustees, as well as a range of broader finance and accounting services. While an SMSF’s trustees are ultimately responsible for the management of the fund, having experienced and qualified professionals on hand will significantly enhance the continuing success of your super fund.
As professionally licensed SMSF advisers, our accountants are here to support you throughout this ongoing process. We provide financial management assistance, and offer advice developed with your fund’s specific investment strategy in mind. If you’re looking for the kind of high-quality financial, investment and accounting services you need for your SMSF in the Sydney area, Superfect is here to help.
SMSF Services Sydney
Our SMSF services include:
Our efficient and reliable accountants can help you determine if an SMSF is the right financial decision for you, and get you started down the path of developing your own super fund.
*SMSF Trust Deed Establishment
Once you’ve decided to set up an SMSF, a trust deed (a legally binding document that outlines the obligations of each trustee and sets out the agreed-upon rules for the super fund) will need to be established. Our qualified staff can help to develop and prepare the initial document, and assist with any necessary updates along the way.
One of the many legal responsibilities that come with an SMSF is the arrangement of a mandatory annual audit. As your SMSF advisers, we can help you with the reporting and management needed to make each audit as stress-free as possible.
If you want to invest in property using an SMSF, you must comply with a variety of rules and obligations imposed on SMSF trustees seeking to save for their retirement in this way. Our licensed financial advisers can help you ensure your fund abides by all the relevant laws and requirements.
*SMSF Investment and Tax Advice
Once your SMSF has an established investment strategy, we can provide the financial advice you need to ensure that your investment decisions align with your best interests, and that you are complying with all tax laws related to SMSFs.
Self Managed Super Fund Pros and Cons
A Self Managed Super Fund (SMSF) can be a highly lucrative investment for your future, but it also comes with a lot of responsibility for you and any other members of your super fund.
As such, it is vital that you know what you’re getting into before making this significant financial and personal commitment.
Contact us for an initial consultation to see if an SMSF could be right for you.
*SMSF Setup Costs – The costs of setting up an SMSF can be substantial, and when combined with the ongoing expense of running an SMSF, this can make private super funds risky for some consumers.
*SMSF Rules – Because of the liability held by each trustee in an SMSF, you need to keep up to date with any and all changes in the rules associated with SMSFs where you live.
*SMSF Insurance – As an SMSF trustee, you need to arrange and pay for insurance, including income protection and disability cover, for fellow trustees in your SMSF.
*SMSF Minimum Amount – While there is no legally mandated balance required to start a SMSF, it is currently suggested that a minimum balance of $200,000 is necessary in order for an SMSF to be cost-effective, as opposed to a typical superannuation fund.
*SMSF Compliance – Since you and any other trustees in your SMSF ultimately take legal responsibility for the decisions made by your fund, you need to have the knowledge and skills required to fully comply with all relevant legislation.
*Greater investment choice – Under an SMSF, you have a far wider variety of options for investment, including property and international investments, than you would have under a typical superannuation fund.
*Greater control and visibility over your investments – Through an SMSF, you have significantly more awareness and control over how your savings are invested, which means you can ensure that your investment decisions work in accordance with your main financial objectives.
*More flexibility – With an SMSF, you can efficiently change or renew your fund’s investment mix when and as you see fit.
*Ability to consolidate superannuation assets – Because an SMSF can have as many as four members, you can bring together the super assets of multiple individuals, raising your fund’s balance and enhancing your range of investment options.
*Higher potential reward – While the development and management of an SMSF takes time, effort and money, it can reap substantial rewards in the long term; if run correctly, your SMSF will become more and more profitable for you over time.
Why Superfect is the Best Sydney SMSF Accountant for you
At Superfect, we pride ourselves on our ability to work openly, efficiently and reliably for all our clients.
Our accountants are licensed and highly experienced in providing SMSF development and management advice, auditing and other services.
We strive to help our Sydney clients understand all they need to know in order to comply with the law and make the very best investment decisions for their own private super fund.
To learn more about the SMSF process and how we can help you, please Click here today.