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Our SMSF Accountants are proud to service the Gold Coast and wider Queensland area providing a full suite of SMSF Administration services including ongoing compliance, tax, financials and audit support.
The popularity of Self Managed Super Funds spring from the unique combination of flexibility and control they provide to trustees to invest in a full range of asset classes including public and private shares, managed funds, precious metals, private loans and even digital assets.
Servicing the Gold Coast, our SMSF Accountants are here to make the compliance and accounting side of having an SMSF as simple and easy as possible for the trustees. The core technology underlying our work is the Class Super platform which is the largest SMSF system in Australia owed via a publicly listed company. On top of their system, we have our own custom built automation allowing us to provide additional efficiencies and value to our clients. This automation is coupled with technical excellence from our team of specialist accountants and lawyers.
We are proud of our team of Specialist SMSF Accountants led by our SMSF Director, Emily Cooper. Our wider team includes Chartered Tax Advisers who have been trained and signed off by the Tax Institute of Australia with the mark of taxation excellence.
Our firm is fortunate to have a practising lawyer on our board who has chosen to specialise in the SMSF space. Christopher is responsible for training our technical team and also provides support to our clients if they run into complex SMSF issues such as contraventions or want an opinion before engaging in unique investments or entering complex scenarios requiring specialist help.
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 (07) 5551 2051 or fill in the form above
As SMSF Accountants we complete the full suite of super services on behalf of our clients which includes:
We offer a holistic service covering the entire SMSF lifecycle from establishment to shutdown as your trusted partner providing SMSF trustees with ongoing advice, support and compliance.
SMSF Audit services are a legally required part of Self Managed Super Fund life. Most of our trustees have never had to experience an audit before as it is generally not a normal part of life. As SMSFS are regulated by the Australian Taxation Office they have put certain requirements on funds such as the annual audit by an ASIC licensed auditor who will independently review the fund.
This audit will include:
For a full list of the documents reviewed checkout our SMSF Audit Services page for more information.
Just like other taxpaying entities Self Managed Super Funds are required to complete annual tax returns and submit these to the Australian Taxation Office. This return must include the SMSF Audit sign off and a fund cannot legally be lodged without that audit sign off under the penalties of purgatory. It is worth noting that the ATO checks these audit sign offs with the auditors on an annual basis due to a few bad actors pretending to have received audits when in reality they failed to comply with the rules.
An SMSF Investment Strategic is a legally required compliance document which the trustees must prepare for the fund and update as appropriate. The SMSF Audit will confirm the existence of the strategy although the auditor is not at liberty to judge the correctness of the strategy as, much like us, they are not financial advisers and have no ability to gaze into the proverbial crystal ball and work out which investments will go up or down in value.
This strategy does need to cover off on certain details such as whether the fund chooses to invest in insurance for its members. The other items the ATO considers important includes liquidity, diversification and the asset selection process. For more information about the ATO view on your SMSF Investment Strategy checkout this link to their website.
The simple answer is yes, a Self Managed Super Fund can purchase property whether residential or commercial, but it is limited by a number of unique ATO rules along with the general rules governed by the Sole Purpose Test. A few basic rules to remember is that the fund cannot purchase a residential property from, or rent it too, a member or any related party. If you are unsure whether a property investment is right for you then you should check with a financial planner who is licensed via ASIC holding an Australian financial services license.
When clients are right at the start of the super journey, they will often ask us what is an SMSF? This is a complex question as there are numerous ways an SMSF can be used. As a general rule a Self Managed Super Fund is a flexile way of controlling the savings for your own retirement. The key difference between an SMSF and other types of funds is that the members of the fund are generally also the trustees allowing a unique degree of control for those members as well as making them responsible for meeting the tax laws under the Superannuation Industry (Supervision) Act 1993. Keep in mind our role as SMSF Accountants does not include giving advice on whether an SMSF is right for you! This is something best discussed with a licensed financial planner who is registered with ASIC holding an Australian financial services license.
For complete and affordable SMSF solutions, get in touch with our SMSF Accountants today.
© 2023 SMSF Australia Pty Ltd
Liability limited by a scheme approved under the professional standards legislation.
For complete and affordable SMSF solutions, get in touch with our SMSF Accountants today.
© 2023 SMSF Australia Pty Ltd
Liability limited by a scheme approved under the professional standards legislation.