SMSF Australia - Specialist SMSF Accountants

SMSF Accountants Adelaide

SMSF Accountants AdelaideSelf-Managed Super Funds allow trustees to have a great deal of autonomy with their investments. Using a SMSF you will be able to take control your retirement savings and direct investments according to your beliefs and personal choices provided you keep to the rules laid out under the Superannuation Industry (Supervision) Act 1993.

These rules allow SMSF’s to invest in a multitude of different asset classes including listed & unlisted shares, precious metals, cryptocurrency, residential & commercial property, and even private loans. Each of these asset classes have their own distinct rules about how the investments need to be held and reported to meet the ATO requirements and keep the auditor happy. That is where our role comes in as SMSF Accountants. We help our clients to keep their fund compliant and up to date with proactive advice and support.

SMSF Australia uses the Class Super platform to manage our clients SMSFs. Class is the leading SMSF Administration software platform that allows for data feeds coupled with our own automation tools to maintain our client’s financial records.

Take Hold of Your Retirement

Controlling your own retirement savings and retirement strategy via a Self Managed Super Fund can be a rewarding but tricky experience for many clients. Most clients enjoy the benefits of being able to invest in a wider range of assets than traditional superannuation offerings while controlling their own financial destiny however, it is important to understand the rules and obligations imposed on your SMSF and enforced by the ATO via the Superannuation Industry (Supervision) Act 1993 and the associated Superannuation Industry (Supervision) Regulations 1994.

Our firm boasts a professional team of SMSF accountants servicing clients with a holistic approach. It is our goal to make the ongoing administration of your SMSF to be as simple and seamless as possible. Our firm is founded on the twin pillars of automation and technical excellence. We don’t dictate which other advisers you choose to work with and will be happy to liaise directly with your mortgage broker, financial planner, and personal/business accountant to ensure there is an open communication flow across your entire financial support team.

Contact Us

If you’re interested in learning more about our SMSF Accounting Services please reach out for a confidential quote. Simply submit your details and one of our friendly team will be in touch as soon as possible.

Contact Us Mobile Adelaide

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Do you want to learn more about our SMSF Accounting Services?

Give us a call on 1300 392 544 or fill in the form above

Contact Us

If you’re interested in learning more about our SMSF Accounting Services please reach out for a confidential quote. Simply submit your details and one of our friendly team will be in touch as soon as possible.

Contact Us Adelaide

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SMSF Accountants Adelaide

Why Us?

Our firm boasts a team of Accredited SMSF Accountants experienced at servicing the Adelaide market from our office in Highgate. This accreditation comes via the SMSF Association of Australia that is the leading body representing and training accountants and lawyers in this specialist place. This is coupled with our staff training via the Tax Institute of Australia led by Chartered Tax Advisers.

We are also lucky enough to have a lawyer as part of our team who is a specialist in the SMSF space and able to assist clients who run into more complex legal issues. The combination of legal and accounting advisors within our team allows SMSF Australia to offer a service based on absolute technical excellence

SMSF Accounting Services

We provide ongoing SMSF accounting services to the Adelaide market whereby we support you in all your annual obligations as the trustee of the fund. These services include:

  • Ongoing reconciliation of income and expenses of the fund via the Class Platform
  • Submitting all ATO lodgements, including:
    • TBAR Reports
    • IAS/BAS Reporting as required
    • Financial Statements
    • Tax Returns
  • Preparation of all documents for the external auditor
  • Creation of all statutory documents required for funds operation
  • Assistance in withdrawing funds on the passing of members

SMSF Audit Services

It is a legal requirement that SMSFs are audited every financial year by an independent ASIC registered auditor. This process essentially is a review of your financial statements, investment strategy and other compliance documents, ensuring that your fund is operating correctly.

SMSF Audit Services include a review of the:

  • Self Managed Super Fund Deed
  • Your personalised Investment Strategy
  • Financial Reports for the current and previous financial years
  • Source documents such as supplier invoices and receipts
  • The SMSF Tax Return
  • Other compliance documents

SMSF Tax Return Adelaide

SMSF Tax Returns

Every Fund must submit a tax return annually to the ATO. Your return will detail the financial position of your fund and outline any profits/losses made through your investments in the financial year. This return is completed at the same time as your annual financials via the Class Super Platform. For this return to be submitted to the ATO the fund must include the independent auditors sign off otherwise it will be rejected and red flag with the tax office.

For funds in their first year of operation they will generally be given to the 28th February to lodge their tax return although once there is a record of compliant operations with the ATO this due date is extended till the 15th May. That said, we certainly don’t recommend you leave it until the last moment and suggest looking to lodge your return as early as reasonably possible to stay on top of your compliance obligations.

Wholesale SMSF Services

SMSF Australia provides services to everyday consumers or on a white-labelled basis to other accounting firms. Our wholesale wing involves our team completing white labelled work on our Class Super system which gives the referring accountant access to all their clients details and live view of investments. This allows us to complete the compliance while the accountant is able to focus on the advisory service and other areas they specialise in.

Accounting Firms

SMSF Australia has been a trusted partner of accounting firms across Australia for a substantial time. We build long-term partnerships with all our outsourcing clients. Reach out and discover the SMSF Australia difference.

Financial Planners

Our business model prohibits our staff from giving investment advice to our clients. This can only be done by ASIC registered financial planners. Once your SMSF is set up you are welcome to use your own financial planner to discuss the allocation of your assets.

All financial planners who work with our clients get access to your data through secure channels on the Class Super Platform. This enables continuity of service for everything involving your SMSF.

Speak to a Adelaide SMSF Specialist Today

Do you need SMSF Accounting Services? Reach out to us today for a no obligation confidential quote on how we can assist with your SMSF plans.

Fill in your details on the contact us form or give us a call and one of our friendly team of SMSF Specialists will be happy to assist!

Frequently Asked Questions

How much does an SMSF Cost in Fees in Adelaide

How much does it cost for an SMSF Setup in Adelaide?

The total establishment cost of setting up an SMSF in Adelaide is $2,000+GST. Keep in mind this includes all the costs of setting up an SMSF bundled into one as we believe in transparent pricing up front.

For the breakdown of costs please see below:

  • Class Super platform fee ($280 annually)
  • ASIC fee for setting up a corporate trustee ($538)
  • Legal costs associated with the creation of the SMSF deed and trustee paperwork ($400)
  • Accounting time for the setup, create initial audit file, investment strategy, rollover funds, complete ABN and TFN applications and preparation of files you’ll need to open the bank account 

What is the SMSF Setup process?

Once you have decided to setup an SMSF please reach out to us to assist with the process which will involve:

  • Completing our SMSF Setup form and providing ID documents etc
  • Selecting a name for the Fund and Corporate Trustee
  • Organising a Directors ID Number as mandated by ASIC
  • Providing copies of any existing funds you want rolled over into the SMSF

Can accountants provide SMSF advice?

Accountants at SMSF Australia can provide advice on the creation, operation, and wind-up of your SMSF fund – however, we cannot provide advice on what to invest your money into.

We are bound by legislation that prohibits us from doing so. In the event that you have investment related questions, we suggest seeking out an ASIC registered financial planner – they are better educated on considering your personal circumstances to help you make smart investment choices.

Can you buy property with a self managed super fund

Can I purchase property in my SMSF?

Yes! But keep in mind there are legal obligations you will need to meet if your SMSF strategy includes holding property. Please note, you can only purchase property within your SMSF if it is clearly indicated in your investment strategy.

Property held within an SMSF cannot provide benefits to its members before their retirement. There are certain rules about occupancy and leasing out both commercial and residential property.

SMSF Property Loans in Adelaide

Can my SMSF borrow money?

Yes, but only via the use of a legal instrument known as a Bare Trust. However, since the royal commission it has become a little bit harder to borrow funds in this manner as the big four banks decided they will no longer lend to self managed super funds. This means clients needing a new SMSF mortgage will have to go to a second-tier lender such as a Liberty or La Trobe which will generally mean paying a higher interest rate and fees for the mortgage. We do not operate as mortgage brokers but have worked with dozens of good quality brokers in Adelaide and can certainly recommend a few for you to talk too if you need help in this area.

Cryptocurrency SMSF

Cryptocurrency and SMSFs?

Yes, you can invest in cryptocurrency through your SMSF if your investment strategy provides for this asset class. One important thing to remember is that the account on the exchange holding the cryptocurrencies must be in the name of the Fund and its corporate trustee and not an individual member’s name.