Self Managed Super Funds

YOU ARE IN: Ballarat Accountants > Tax & Business Advice > Self Managed Super Funds

Self Managed Superannuation Funds (SMSF): DIY Super

Establishment and Advice:

KeyPlay Business Solutions can advise on and establish your SMSF  depending on your specific requirements.

We consider whether or not a SMSF is right for you. We can advise you on the following:

  • The establishment of the Superannuation Trust Deed and Trustee (being a company or indivdiual(s)). 
  • An Investment Strategy prepared by our Financial Planner.
  • It also includes associated ATO registrations such as ABN, TFN and (GST if required).
  • Establishment of Members and all required minutes including the Trustee Representation Letter.
  • All advice in relation to the taxation outcomes of a particular investment strategy in a SMSF.

 

A SMSF can have up to four members and the four members can all combine their superannuation monies into the required investments. Each member's funds and investment entitlements are legally accounted for separately and held in separate member accounts.

What Investments can a SMSF have ?

  • Publicly listed Shares on the ASX
  • Residential Property
  • Commercial Property are some of the main asset classes the members of the SMSF can invest in.

    Many of our business clients for example purchase suitable commercial property in their SMSF to run their busienss from, effectively renting from themselves.

    Can SMSF Borrow ? Click here for a more detailed Fact Sheet.

    Yes. SMSF can now also borrow and this allows a fund to access larger investments than it previously could. Solid financial and tax planning considerations need to be made before this path is considered as an option.

    There are strick laws in these investment types and consultation with ourselves in conjunction with our Financial Planning partners - KeyPlay Financial Services is required.

    The annual costs associated with running a SMSF include the following:

    • ATO Super Levy Fees $ 150
    • Annual Accounting Fees $ 1,000 to $3,000 (plus GST)
    • Annual Audit Fees $ 400-800 (plus GST)


    The following table outlines the difference in annual fees between a SMSF versus superannuation invested with a Financial Planner, via a Managed Fund:

    table

     

     Source: Tony Melvin and Ed Chan: How to Control your Super Now. Page 83

     

    If you require any more help or advice please contact our office. Ballarat Accountants

     


Feedback Form
Generate Leads