Self-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.
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.
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.
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
Our firm boasts a team of Specialist SMSF Accountants experienced at servicing the Adelaide market from our office in Highgate. Our director, Emily Cooper, is an accredited SMSF Specialist 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 also 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
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:
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:
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.
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.
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:
Once you have decided to setup an SMSF please reach out to us to assist with the process which will involve:
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.
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.
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.