As SMSF accountants Specialists Gold Coast is ideally placed to provide comprehensive services to Self Managed Super Funds and their Trustees and Members. Growth in Self Managed Super Funds continues at a staggering pace and represents one of the largest areas of investment for retirement. As more and more are demanding direct control of their superannuation investments, Self Managed Super Funds continue to experience regular legislative changes in what is a complex and technical area.
We help clients set-up Self Managed Superannuation Funds and provide ongoing advice and services, including fund compliance, accounting, tax and audit assistance. As qualified Accountants and Financial Planners, with expertise in Self Managed Superannuation, we are committed to providing continued support and assistance to meet all our clients’ requirements. This means a better service that gives our clients the confidence and security to enable them to manage their wealth and achieve their financial goals.
If you have an existing SMSF accountants Specialists Gold Coast, transferring to us is a simple process. We will not restrict you to any particular investments or service providers you can transfer to us and still retain all your current arrangements. A Self Managed Superannuation Fund (SMSF) is a trust where money and investments are held and managed on behalf of the members. The fund’s purpose is to provide benefits to members on retirement or death.
Accessing the super in your SMSF to pay benefits is generally only allowed when a member reaches what’s called their ‘preservation age’ and meets one of the specified conditions of release – for example, they retire. Also, there are significant penalties for unlawfully releasing super benefits. The income of your SMSF is generally taxed at a concessional rate of 15%. To be entitled to this rate your fund has to be a ‘complying fund’ that follows the laws and rules for SMSFs. And finally, at some point you may need to wind up your SMSF. This could happen if all the members and trustees have left the SMSF or all the benefits have been paid out of the fund.
For an Easy and Secured Management of your SMSF, you can also take help from professional SMSF accountants Specialists Gold Coast who have comprehensive knowledge of setting up your SMSF as well as managing it in your best interests, SMSF Audits and who are well aware of all legal regulations and remain compliant with the on-going changes by the government. SMSF has greatly benefited and is the Super Growing Super Fund today. Hence, if managed properly and lawfully, it is sure to yield you great benefits at the end.
There are certain rules and regulations for all types of superannuation funds that must be firmly obeyed, otherwise the trustee’s cooperation will be put into question. As with all other types of super funds,, SMSFs also have rules and policies which need to be followed. This may include guidance on the types of investments that are allowed and the structure that the investment is being made under. This will not only protect the SMSF from making bad investments, it will also ensure that the SMSF rules are being complied with.
The flexibility of SMSFs enables you to use investment strategies that are not practiced by the industry or retail superannuation funds. For example, you can invest in anything from cash, to managed funds, international shares, residential and commercial property, and even art. The main thing is to remember that your investments need to be made in the right format.
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