Self-Managed Superannuation (SMSF)

Superannuation can often form a key part of your overall wealth creation strategy. While managing an SMSF is a large responsibility, in some cases there can be substantial benefits to having control over your superannuation strategy and investment choices. The potential benefits are:

• It can allow you to efficiently grow and manage your investments in a tax effective environment over your lifetime to provide for your retirement
• It can give you flexibility in relation to tax effective investment and estate planning strategies to maximise wealth across multiple generations
• Scope to invest in asset classes, such as direct property, which are not open to you in an industry fund

Trustees are responsible for the administration, compliance, development and maintenance of their SMSF strategy and need to adhere to strict rules or suffer significant penalties.

The rules of superannuation change and economic conditions fluctuate, so it’s vitally important to keep abreast of the governing rules and market if you’re to make the most of your SMSF. If you don’t feel totally confident in managing these requirements yourself, receiving experienced advice and support is recommended.

The annual compliance requirements for SMSFs that our team can assist you with include preparation of financial statements, member reporting including transfer balance account reporting, annual returns, associated minutes and obtaining necessary supporting documents such as actuarial certificates and asset valuations.

Alongside this is technical advice around maximising tax benefits, accessing superannuation benefits, pension administration and estate planning.