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Services

SMSF

Setting up your SMSF is easy SMSF Set up BRISBANE

Superannuation is one of the best ways to fund one’s retirement. While there are a number of restrictions that need to be adhered to however, its tax effective nature allows us to invest today and either sell the asset or love off the earnings in the future potentially tax free.

In order to assist your personal wealth creation and for future retirement planning we provide a Self Managed Superannuation Fund service which includes setting up your SMSF and all administrative requirements to meet your obligations as trustee (preparation of financials statements, member reports and investment strategies).

An in-office appointment will be most beneficial for you and your family, where we can touch on all bases and comprehensively strategise your investment plan.

For more information, the ATO provides a handy booklet ( Setting-up-a-self-managed-superfund )

SMSF benefits

Self-managed super funds (SMSFs) can be a great way to provide for your retirement and are the largest and fastest growing super sector in Australia. But before you start an SMSF, it?s important to weigh up the benefits and requirements.

1. More investment choice

The key perk of SMSFs has always been investment control, and the wider investment choice (such as direct shares, direct property, hedge funds, art work, etc.) that trustees have compared to commercial super funds. The real benefit is not just in ?choice?, but in the ability to have more sophisticated investment strategies working for you. Some examples include small business owners leasing their business real property (that is used by their business) from their SMSF, borrowing to invest via installment warrants, direct property investments, and many others.

2. Tax control

A major benefit of SMSFs that is slowly becoming more widely known is the control and flexibility that trustees have over the tax position of the fund. Through either strategic investment planning (such as maximising franking credits) or internal structuring, tax can be significantly reduced (and in some cases, totally eliminated with refunds paid from the ATO), particularly for those in retirement. A prime example being with an SMSF you can take greater control over the timing of tax events such as starting a pension without triggering capital gains tax when your superannuation assets move into pension phase.

3. Estate planning

Excellent benefits inherent of SMSFs is the ability to nominate who you would like to receive your super when you pass away, without having to meet some of the constraints that apply to other super arrangements. This includes being able to leave tax advantaged (sometimes tax free) income streams to dependant beneficiaries with control around when they receive a lump sum, and to effectively look after child beneficiaries in a way that no other structure can match.

4. Borrowing

An SMSF can make a larger investment in assets such as shares and property by using cash in your fund and borrow the rest. This makes it much easier for trustees to acquire direct property in their SMSF as property is usually a big ticket item, and generally requires an element of borrowing.

5. Cost

For many people the cost of running an SMSF can be significantly lower than that of an alternative retail, industry of other commercial super fund. The main cost for a SMSF is the completion of the annual administration requirements of the fund (i.e. tax return and audit).

6. Pension Planning

For those members nearing the pension phase, an SMSF allows the most seamless transition from accumulation into flexible income streams. As with all super fund, the ability to take tax free income streams on retirement is a big incentive to stay within the superannuation environment and an SMSF offers a lot of flexibility in terms of how you go about it.

7. Asset Protection

The asset protection afforded in a SMSF is crucial in a world where litigation and bankruptcy has become commonplace. In either of these events, your benefits are protected, even if you withdraw some of this to live on.