SMSF Australia - Specialist SMSF Accountants Sunshine Coast

Sunshine Coast SMSF Accountant

SMSF Accountants | Sunshine Coast | SMSF Accountant

The popularity of Self Managed Super Funds stem from the range of investment choice enjoyed by trustees along with it being a great way to take control of your investments. SMSFs are the most flexible investment vehicle for superannuation savings in Australia allowing their members the chance to invest in direct property, unique assets such as collectables and even digital assets along with traditional investments including shares and managed funds.

Our Sunshine Coast SMSF Accountants are specialists in the superannuation field assisting trustees to meet their obligations by providing a full range of SMSF administration services. These services include the ongoing reconciliation of the transactions, preparing financials, completing the SMSF Tax Return as well as organising the compulsory annual SMSF audit.

For new trustees who have made the decision with their financial adviser to complete an SMSF Setup we can manage the entire establishment process for you. Our certified specialists can also provide expert advice, education and support to trustees so that you are confident you understand the rules and obligations placed on self-managed superannuation funds by the Australian Taxation Office who administer the system.

About Us?

Our team of SMSF Accountants have been trained via the Tax Institute of Australia, an independent organisation providing training, support, and scrutiny in the fields of Taxation and Superannuation. This training is coupled with our director Emily Cooper being accredited as an SMSF Specialist by the SMSF Association so you can be confident you are dealing with specialists in this unique and challenging area.

Along with our amazing accounting team we are fortunate to have a specialist SMSF lawyer on our board who provides ongoing training and support to our team. This intersection of law and accounting in our team allows us to handle complex matters efficiently and assist with ATO queries, contraventions and other high level advice and support for our clients.

Tax Practitioners Board Registered

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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 Sunshine Coast

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

Give us a call on (07) 5415 0427 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 Sunshine Coast

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Class SuperSMSF Accountants Sunshine Coast

Our team provides SMSF accounting services throughout the Sunshine Coast and Brisbane using Zoom, Microsoft Teams, Class Super and other remote access technologies to support clients whether rurally based or in the metropolitan area. We can assist with the whole lifecycle of a self managed super fund from the initial setup through an eventual wind up. An SMSF can be a great way to save for retirement for anyone looking for additional control over their investments using their own  knowledge and experience to run their fund for the purpose of providing for their families future. 

We believe in transparency in our costs so all work is quoted up front (except for government initiated audits or other complex legal matters which may be unable to be accurately determined in advance). Please checkout our Pricing page for a full breakdown of the costs of establishing, running and closing an SMSF but as a general guide:

  • Simple Returns $1,300+GST*
  • Complex Return including Direct Property or Crypto $1,600+GST*
  • Actuarial Certificates are on charged at cost from Apricot Actuaries, currently $89+GST
  • Establish an SMSF including the ASIC fee, Class Super Fee, ESA & Rollovers $2,000+GST

*Note this includes the financial statements, taxation return, independent audit, electronic service address and registered office address for the fund. 

SMSF Audit Services Queensland

All funds must have an independent audit each financial year before the return is lodged with the tax office. This must be completed by an ASIC licensed SMSF Auditor following a very regimented process reviewing both the compliance and financial elements of your fund. Some of the key documents that the SMSF Auditor will review include:

  • The SMSF Deed along with any variation deeds
  • Your SMSF Investment Strategy which will be reviewed against the activity of the fund
  • The compliance documents including members applications, trustee declarations, minutes etc
  • The Financial Reports of the fund including the Profit & Loss, Balance Sheet and Member Accounts
  • The SMSF Tax Return
  • All the workpapers and source documents showing the veracity of the transactions being reported

Although the process can appear to be quite complicated we manage it on behalf of the trustees providing initial checks and reviews and helping to inform trustees of their obligations so that records are being kept accurately. Please check out our services page below to learn more about how our SMSF Audit Services work. Alternatively please fill out the form and our experienced team who specialise in this niche are would be happy to talk you through the process. 

SMSF Accounting & Tax Returns

Another annual requirement is the completion of a self-managed super fund tax return which reports to the tax office the income and expenditure of the fund along with the member balances. The tax office then assesses the tax payable of the fund which will be calculated at 15% of the net profit for most complying entities. The tax office will also charge an SMSF Compliance Levy which is an additional fee they charge as part of their cost recovery for the time they take to administer the superannuation system. This is why you may have a small payable even when you have had no income for a particular financial year.

SMSF Returns are due by the 15th May following the end of financial year for the majority of funds which gives trustees plenty of time to work with us to get their files completed, organise some tax planning for the fund, and have the work reviewed and audited prior to lodgement. For new SMSF Setups the tax office gives a shorter deadline of the 28th February as they tend to pay special attention to new funds to ensure the new trustees are understanding their obligations and meeting the requirements laid down under the Superannuation Industry (Supervision) Act 1993

Contact Us

If you’re interested in learning more about our SMSF Accounting Services or setting up a SMSF 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.

Frequently Asked Questions

What is an SMSF Investment Strategy?

This strategy is written by the trustees of the fund and is in basic terms their plan for how they want to invest the assets of the fund in order to meet their objectives and retirement goals. It is a legal requirement to have a strategy although the law does not mandate what you choose to decide is a reasonable set of objectives. You are able to seek professional advice from financial advisors who work with you to tailor fund advice to show you how to reach your retirement goals however, it is not required  and many trustees choose to complete it themselves. Provided it is compliant with the government rules and you personalise it to your goals there are no issues. The tax office recommends that you consider the following factors in relation to your fund:

  • What are the risks in relation to the assets selected?
  • How have you determined the diversity of investments?
  • How liquid it the fund?
  • How will the fund reach your financial retirement goals?
  • What is the fund’s ability to pay benefits from your retirement savings?
  • whether you will choose to hold insurance cover for each member of your SMSF.

For more information about the government requirements please checkout their website which has some fantastic information to assist new trustees – Tax Office Website. Alternatively if you have a specific question feel free to contact us today and one of our friendly Queensland advisers will be happy to provide you will advice and help to understand the process. 

Setting up a Self Managed Super Fund?

If you are looking to start your own fund we are here to assist in establishing the Self Managed Super Fund and ensuring you are compliant in the setup, have accurate records to start the fund and are thus eligible for the superannuation tax concessions. In simple terms this includes:

  • Entering all your personal details along with proof of ID documents which allows our legal team to complete your SMSF Deed along with the corporate trustee and the ATO Registrations
  • You will need to select a name for both the Corporate Trustee and the fund. Keep in mind company names must be unique so you will need to check on the ASIC site to see if the name you want is available.
  • ASIC also mandates that all directors are required to obtain an identification number which needs to be completed prior to the setup being completed.
  • Once our team has completed the setup then we will get you setup on the Class Super system with the electronic service address ‘smsfdataflow’ which will allow you to receive contributions to the fund.
  • We are also able to assist with the rollover of any existing funds into your new SMSF bank account which is included in our establishment fee.

Setting up a self-managed fund is a painless process and our staff have extensive experience in this area. If you are looking to establish a fun and need help further understanding self managed superannuation funds reach out to us with any questions whether about setting up the fund or the ongoing costs and effort in running an SMSF. 

Can a Self Managed Superannuation Fund Purchase Property?

The short answer is yes you can own a property in an SMSF! Trustees can choose to add either residential or commercial properties into their fund and some limited borrowing options are available although generally from second tier lenders at higher interest rates than standard mortgages. There are also numerous rules you need to be aware of including, most importantly, an absolute bar from a residential property being occupied by, rented too or otherwise used by a related party.

You also need to be cautious as there are an unfortunate number of property spruikers attempting to offload less than ideal properties onto unwitting SMSF trustees. Be careful to ensure that anyone advising you on a property purchase is licensed by ASIC and holds a valid Australian Financial Services License. For more information about the risks of property within an SMSF checkout the Australian government Money Smart website.