A Self-Managed Superannuation Fund (SMSF) is a super fund managed by you and allows you to take control over the investment strategy of your fund. It also provides greater flexibility in terms of investing the fund’s assets, retirement income options and estate planning.
However, it’s important to understand the responsibilities that come with being an SMSF trustee as they are subject to considerable compliance and regulation, meaning they aren’t suitable for everybody.
Things to consider
Some important considerations for a Self-Managed Super Fund trustee are:
Setting up your own Self-Managed Super Fund (SMSF) gives you more freedom and flexibility to access investment options within your superannuation. But it’s also a big responsibility, so it pays to partner with a specialist SMSF accounting firm.
Carbon Accounting & Tax’s establishment services include:
If you have an existing SMSF, perhaps you’ve outgrown your current provider or would like the benefit of a fresh approach. Carbon Accounting & Tax makes the process of transferring your existing fund a smooth one.
Trustees can rest easy knowing management of your SMSF is in safe hands, thanks to our full suite of financial services, year-end and regulatory work and ongoing advice.
Carbon Accounting & Tax’s review of your existing fund includes:
Carbon Accounting & Tax will undertake the following on your behalf:
As leading specialists in the SMSF field, not only will we help you understand and satisfy the SMSF’s reporting obligations to the ATO, but we will ensure you’re meeting your responsibilities as a trustee of a SMSF.
With so many rules and regulations surrounding super, it’s important to do things right and that’s where Carbon Accounting Tax comes in. We have a dedicated ‘super’ team that have a high level of technical expertise and are up to date with the latest legislative changes and superannuation strategies.
Whether it’s a new fund or an existing one, everything we do focuses on making the setup and ongoing running of your Self-Managed Super Fund easier for you.
We’re dedicated. We’re effective. We’re responsive. We know Super inside and out.
A Self-Managed Super Fund (SMSF) is a superannuation fund that you manage.
By having an SMSF, you would be in the driver’s seat of your superannuation fund’s investment strategy. An SMSF would also give you additional flexibility in how you invest your fund’s assets, the retirement income options you have, and your estate planning.
There are quite a few responsibilities and reporting obligations for SMSF Trustee’s, so it’s important to do your research and discuss your options with your accountant before setting one up. Given that SMSF’s are bound by compliance and regulation, they are not the best option for everyone.
A self-managed super fund can be set up through the creation of a superannuation fund deed and the registration of a corporate trustee. This can be done through various legal document providers, accountants or lawyers.
Setting up a Self-Managed Super Fund can be tricky. Our best advice is to get in touch with Carbon to discuss your situation prior to starting the process. Once we have all of the information, we can give tailored advice and work together.
We believe that our role is to take the stress of running a SMSF off of your hands, as well as provide the ‘why’ behind each action. We will also help ensure you meet all of the administration and reporting obligations you’re required to do as an SMSF Trustee.
Contact us to find out more about Self-Managed Super Funds.
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