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Self Managed Superannuation

 

We can help you set up your self managed superannuation funds through our licensed financial advising company, Dolman Bateman Financial Advisors provide you with the advice in developing an investment strategy.

A self managed superannuation fund is not for everyone, but it can offer significant advantages in terms of both flexibility and control. The rules associated with superannuation are complex and in cases where the rules are broken the penalties are up to 50% of the assets of the fund. We will help you navigate these rules.

 

What is a self managed super fund?

A self managed superannuation fund (SMSF) is a superannuation fund with fewer than five members and that each of those members is a trustee of the fund or a director of the trustee company.

A superannuation fund is a scheme for the payment of superannuation benefits upon the retirement of the members of the fund. Superannuation funds is Australia receive concessional tax treatment whilst in the growth phase (the years to retirement) and the payment phase (years after retirement). In return for the concessional tax treatment, strict rules and harsh penalties are in place to ensure that the funds invested are retained for the retirement benefits of the members.
A self managed super fund is a form of trust and requires a trust deed. The activities of the fund are determined by the trust deed and legislation.

Benefits of self managed super funds

Self managed superannuation funds are popular because of the control that it provides members to make their own investment decisions and to invest in assets that are excluded from the investment portfolios of managed investment funds. Some of the key benefits are:

  • Members have control over their fund investments, unlike APRA or retail funds.
  • Greater investment choice.
  • Control and flexibility over the tax position of the fund.
  • Estate planning – looking after the family.
  • Pension planning.
  • Asset protection.
  • Borrowing to purchase investments.
  • Cost can be significantly cheaper than a retail fund.
  • Pooling of family superfund assets to reduce overall fees.

 

Our Service

We provide a full SMSF administration service including:

  • New SMSF setup including corporate trustee.
  • Setup of new bank and trading accounts.
  • Management of all paperwork and correspondence from your investments and the tax office.
  • Preparation of financial accounts – monthly, quarterly, 6 monthly & yearly.
  • Preparation and lodgement of annual income tax and regulatory returns.
  • Annual regulatory audit of fund.
  • Advice on investment strategies and tax minimisation.
  • Assistance and training on how to trade and purchase investments.
  • Preparation of all the paperwork required to start all types of pensions.

 

Take control of your super with a free quote

 

 

Book a meeting with us today 

We are offering a free 30 min consultation to help provide you with the right advice suitable for your personal situation and get you set up on the right accounting path.