Specialist SMSF Accountants Brisbane - Self Managed Super Fund Experts

SMSF Accountants Brisbane

SMSF Accountants Brisbane

Self-Managed Super Funds offer the most flexible investment structure available within the superannuation landscape in Australia. The reason they are the preferred choice for over a million Australians is because of their ability to invest in a diverse range of assets including direct property holdings, both residential and commercial, cryptocurrency, shares, managed funds as well as bullion, private company shares, and other unique assets.

Our team of SMSF Accountants in Brisbane have worked with trustees nationally to support them with the accounting and taxation requirements of their SMSF as they navigate these myriad of investment options.

Our role is to provide guidance and expert advice to ensure clients are setup with the Class Super software platform with active data feeds direct from their investments and other automation tools to ensure the record keeping is as inexpensive and streamlined as possible. The Class Super platform is Australia’s leading SMSF software solution backed up with the security and stability of a leading publicly listed company.

Self Managed Super Funds

DIY superannuation known in Australia as a Self-Managed Superannuation Fund is a mechanism whereby individuals can take control of their super directly following their own investment goals and criteria such as following an ethical investing framework. This allows trustees to tailor their investments to their particular goals and risk tolerance to personalise their retirement plans to their unique situation.

Our team of SMSF Accountants  specialise in assisting you with advice and support on your duties under the SIS Act and the associated Superannuation Industry (Supervision) Regulations 1994. This guidance and assistance focuses on helping clients with the accounting side of superannuation using our knowledge and experience to make the complex and time-consuming job of meeting the tax offices compliance requirements simple and easy. We do not provide specific financial advice such as asset allocation and do not provide advice as to whether property versus shares versus gold is a better or worse investment. We will however, provide advice on ongoing tax benefits and savings available, regulatory changes and of course also help to complete your ongoing accounting and tax returns. 

As a SMSF firm we specialise solely in the Self-Managed Super Fund space providing a niche service to trustees and other firms. Our mission is to provide advice and support to clients while implementing high level automation solutions to allow you to efficiently manage your SMSF as simply as cost effectively as possible.

We are independently owned and not linked to any financial planning firm or group so are happy to work with your financial planner and personal accountant to ensure you are supported holistically with your super fund within your wider financial and retirement goals. 

Tax Practitioners Board Registered

Contact US | SMSF Accountants in Brisbane

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

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

Give us a call on (07) 3112 8069 or fill in the form above

Contact US | SMSF Accountants in Brisbane

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

Contact Us Brisbane

Name(Required)

Our SMSF Accountants Can Help

We have a team of experts servicing Brisbane including Chartered Tax Advisers accredited via the Tax Institute of Australia, SMSF Specialists accredited via the SMSF Association and legal talent providing comprehensive advice in the superannuation sphere. Our accountants in Brisbane can provide ongoing SMSF administration solutions with services to ensure your SMSF remains up-to-date while you focus to maximise your retirement goals. 

Our team includes numerous SMSF Specialists with decades of practical experience working with complex super scenarios and dealing with ATO investigations and compliance issues. We are also fortunate to have an SMSF Lawyer sitting on our board who works to provide our team and our clients with regular updates on the most recent cases effecting the SMSF industry, ongoing estate planning support and assistance with SMSF changes and restructuring.

SMSF Accounting Services

We assist with a variety of services including the initial SMSF Setup, the ongoing maintenance of the fund including the administration, accounting and taxation requirements and of course, the eventual wind up of the fund by the members or their inheritors. 

We are experienced assisting across the entire super lifecycle and are pleased to give you price certainty along the way. Our model is to quote you fixed price fees up front based on the complexity of your fund and the work you would like us to completed on your behalf.

These fees include the software costs, the annual accounting and tax return lodgements plus disbursements made to an independent auditor on your behalf. Keep in mind all SMSFs are required to be independently audited on an annual basis who are licensed by ASIC and required to report any adverse findings to the Australian Taxation Office as contravention reports.

Our team in Brisbane can help with:

  • Setting up a Self-Managed Superannuation Fund to be regulated by the ATO 
  • The administration of your existing SMSF using the Class Cloud Platform
  • Reconciling your SMSF transactions with the Class platform along with our own internal toolkit which makes managing an SMSF a much simpler activity than previous generations experienced.
  • Drafting all tax office compliance lodgements, including:
    • Tax Returns
    • Business Activity Statements
    • Lodging Instalment Activity Statements and PAYG notices
    • TBAR Reporting (Transfer Balance Account Reporting)
  • Preparing all relevant financials for a mandatory external review
  • Preparing all statutory documents and legal filings required in the upkeep of the fund
  • Assisting in the calculation of the minimum draw-down requirements for clients who have retired
  • Providing all the necessary support for the wind up of the fund or for the transfer of remaining funds under the clients will to the beneficiaries

SMSF Tax Return & Taxation Advice

One of the key requirements for a Self-Managed Super fund is to complete the annual SMSF tax return and lodge it with the ATO.

For compliant SMSFs with a good history with the ATO this return is generally due for lodgement by the 15th of May the year following the end of financial year.

For first year super fund returns these generally have a shorter window for lodgement being due the 28th of February of the following year as the ATO will tend to pay more attention to a fund in its first year to ensure the members are on top of their new obligations.

This return must include a sign off by an independent auditor for the return to be lodged, otherwise the system will automatically reject the lodgement.

The SMSF auditor reviews the deed, investment strategy, other statutory documents as well as the financial statements and supporting source documents to come to an opinion as to whether the financials and return accurately reflect the activity of the fund and whether the clients have breached the SIS Act or SIS Regulations.

SMSF Deeds

An SMSF Deed is the legal document which creates the self-managed super fund in the same way a trust deed creates and manages the legal relationships within a trust. 

This document is often forgotten by busy clients, but it is the core set of legal rules which define how the SMSF must act and what it is allowed to do. Given that governments of all persuasions have enjoyed regularly playing with the laws around the superannuation industry it is important that this document is regularly reviewed by a legal professional.

Reliable SMSF Services for Everyone

When we created SMSF Australia we aimed to tailor our services around two key client demographics being other accountants and direct clients. 

We provide fully customisable white labelled services for firms nationally who are specialists in their own areas, such as business accountants who have deep client relationships but do not have the expertise in house to provide affordable quality services in the SMSF space. We provide a dedicated SMSF director to work directly with your firm to ensure your clients accounting needs are met when they are using a SMSF without the costs and key person risk inherent in hiring an SMSF accountant directly for a small number of funds. We understand the importance of your client relationship and all our work is completed by experienced accountants under non-compete agreements so you can maximise the value your firm can offer to clients whether that be their existing funds or the creation of new funds on your behalf. We assist you in achieving great results for your practice leaning on our extensive experience and flexibility to provide peace of mind for your practice in the SMSF space. 

As well as our wholesale style work for other firms we also provide SMSF accounting services in Brisbane direct to clients whereby we assist members one on one to manage their accounting, tax, and reporting obligations. Our services utilise the Class Super platform enhanced with our in-house technical toolkit to provide efficiencies via data feeds and automations. We assist clients to understand the requirements of an SMSF in detail so they ensure an effective self managed super fund compliance program is in place suited to the funds investments and operating activities ensure the fund remains compliant while the you can focus to achieve your financial goals. 

Contact us Today to speak to a Self-Managed Super Fund Specialist

If you need SMSF Accounting Services, then please get in touch with one of our friendly team of SMSF accountants servicing Brisbane to see how we can help with you with SMSF goals.

Please fill in your details on the contact form or give our office a call (07 3112 8069) for a no obligation and confidential chat about the services we offer and how we can work with you moving forward!

Frequently Asked Questions

The total establishment cost for an SMSF setup in Brisbane is $2,000+GST. This amount is payable by the client directly but may be reimbursed to them through the SMSF once it is created – provided the funds have been rolled into the new bank account.

This fee is all inclusive covering the ASIC setup fee for the corporate trustee of $576, the lawyers’ costs to complete an SMSF Deed, along with software fees from Class Super to setup the fund on the new software platform.

Class charges roughly $280 per year including GST per self-managed super fund hosted on the Class Platform. The establishment fee also includes the setup of the Electronic Service Address or ESA which the fund will need to receive contributions from employers of the SMSF members.

The fee also covers our time to setup the government registrations including the TFN and ABN, assisting the members in the setup of the myriad of compliance documents, along with assisting with the rollover of your existing superannuation accounts into your new SMSF.

To see a full cost breakdown, visit the following link.

Can an accountant set up an SMSF?

Accountants can provide setup services to establish an SMSF at the request of a client. The Super Fund accountants do need to confirm that all members of the new fund pass identity checks and sign all the required paperwork from the accounting and legal teams. Keep in mind that SMSF accounting firms are unable to set up a Self-Managed Super Fund unless the members pass ID checks and provide photo ID which matches the information contained on the ATO and ASIC databases.

All members will also need to apply for Director ID Numbers via ASIC to complete the creation of the corporate trustee. We are unable to help in circumstances where ID checks cannot be successfully completed.

Accountants cannot create an SMSF Deed as this is a legal service – this must be done by a registered practising lawyer. SMSF Australia partners with a specialist law firm who work in the Self-Managed Super Fund space to answer any questions a client may have as well as complete all legal work.

Can accountants provide SMSF advice?

The role of an accredited SMSF Accountant is to provide advice on the administration, accounting, tax, and ongoing compliance obligations of a Self-Managed Super Fund. This includes all the reporting obligations and general paperwork and process support that you can imagine but specifically excludes advice on investment allocations. Whether you need strategic financial planning support to achieve your retirement goals is a personal decision although we do have a number of planners we have worked with previously who we highly recommend as safe hands to assist you if required. 

Can I purchase property in my SMSF?

A lot of Self-Managed Super Funds are created with the objective of purchasing direct property whether residential or commercial. These properties can be purchased directly within the Self-Managed Super Fund with all the corresponding income and expenses being paid in and out of the SMSF.

If the Deed is thorough and has the appropriate clauses to allow the SMSF to borrow it may do so via the use of a Bare Trust arrangement whereby it can take out a mortgage on real property, either residential or commercial, under certain strict conditions. Under a LRBA the fund can also borrow for a particular parcel of shares or other fixed asset under very stringent conditions.

The big four banks do not lend funds in the SMSF space since the royal commission into the banking sector and thus all loans to super funds are now provided solely by second-tier lenders who generally charge higher interest rates for SMSF loans by one to two percentage points and have higher fees for the setup and maintenance of the SMSF loan.