Exciting retirement and investment vehicles. We look after SMSF's, so you can be confident we’re up to date with all new developments.

 


SMSF’s give unique control of investments. Because of this, members feel more comfortable about having their money in superannuation. They are generally very cost effective, and present opportunities for more meaningful integration of super into a member’s total investment portfolio and retirement planning. SMSF’s also offer excellent flexibility for tax and estate planning.


 

An SMSF is a superannuation fund with fewer than five members. All trustees must be members and vice versa up to a maximum of 4 with the exception of a single member Fund. If you only want a single member fund than you must have a second trustee (all funds must have a minimum of 2 trustees) or alternatively have a corporate trustee.
 
Major benefits include:
 

  • Self managed super funds increase the flexibility in asset selection;
  • Self managed super funds have between 1-4 members in the fund and allow the pooling of resources of other members with similar financial objectives;
  • Self managed super funds provide maximum flexibility in relation to the usage of pension streams;
  • Self managed super funds give you the ability to transfer personally owned shares and other listed securities directly into superannuation; and
  • Self managed super funds also give you the ability to own your business’ real property (but not operating assets) in the superannuation fund, assisting funding and cashflow problems for many businesses.
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Who should have an SMSF?

SMSF’s are generally more cost effective once the members combined resources reach $200,000. They are suitable for investors looking for control over their superannuation assets.

SMSF’s are not for everyone, and you must be sure you understand your responsibilities before you go ahead and set one up.

There are some useful links provided by the ATO to help with your decision. Click here to access the ATO website. SMSF clients may still be accumulating their superannuation or may have moved into pension phase.


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How do I set up an SMSF?

That is where we can help. Once you are satisfied that an SMSF is suitable for you (you may wish to discuss your other options with a licensed financial advisor) download our application form. Once completed, this form should be mailed, emailed or faxed to our office.

You may also apply on-line. On receipt one of our staff will call you to confirm your application has been received. We will then ask you for 50% of the fund set-up fee and we will proceed to arrange for the preparation of the fund establishment documentation.

These documents are then forwarded to you for signing, (usually within three days of receiving your application) which you then return to us to process and check. At this stage you may open a bank account and we will lodge your funds ABN and TFN.

Once your fund is registered with the ATO, your fund establishment documentation is returned to you and your fund is ready for operation. Your fund may now receive contributions (within the regulations) and rollovers. Once you have drawn up an investment strategy (which may be in conjunction with your licensed financial adviser) your Fund may start to invest.


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How do I run my SMSF?

This depends entirely on how actively you wish to trade your investments. As your administrator Superannuation Services Pty Ltd will take care of the rest of your paperwork, making the entire process as easy and hassle-free as possible.

The trustees are responsible for running the fund and making and actioning all investment decisions. You are also responsible for banking contributions and income received. As administrators we mainly get involved at the end of the financial year when we request copies of all of your Funds statements and transactions.

However, we do answer any queries you may have during the year in relation to superannuation and what you can and cannot do with your fund. We would encourage you to check with us first. The consequences of breaking the rules are dire. As administrators we ensure that your Fund’s paperwork is in order, should your Fund be audited by the ATO.

On an annual basis we collate your Funds financial information (which you send to us) and prepare financial statements, tax return, and other applicable returns. We do not advise on where/how to invest your super fund money but we can explain the investment rules. We do however, ensure that your Fund investments comply with your documented investment strategy at the financial year end.


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How do I start a pension?

Before you can start a pension you must meet a condition of release. Superannuation Services cannot recommend when you start a pension, but we can discuss the tax consequences of such a decision.

You also need to decide whether or not you want your pension to automatically revert to somebody else upon your death. Click here for more information on reversionary pensions. Once you decide to commence a pension, we prepare all of the paperwork, documents and calculations on your behalf – leaving you the task of withdrawing the payments from your SMSF bank account (and spending it!).



New to SMSF?

Check out our free resources and then use our online application form.


Existing SMSF

You can get a free health check and we can go through your options with your existing SMSF.


Info for Experts

Are you a Financial Planner or an Accountant looking for expert back-up? We will answer your questions.


Newsletters

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Having your own self managed superannuation fund is easy

Our website will help answer some of your questions, but please call us on 07 3808 1500 if you want to talk to a “real” person and discover the best options for you.

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Superannuation Services