Self-Managed Superannuation Funds (SMSF)
Bluestone Accounting – Self-Managed Superannuation Funds
The area of self-managed superannuation funds is ever changing and seems to be a growing every year. It can be very beneficial for your retirement goals but can also be very costly if done incorrectly or if you invest in certain assets that the ATO do not allow or contribute above your age appropriate threshold meaning you end up paying extra tax in the form of excess superannuation contributions tax.
When considering a SMSF you need to really get the right advice to see if this is really for you. You may want to set a SMSF because you want better control over the investments for your retirement or it may be the flexibility that a SMSF can provide as compared to a managed superannuation fund. However in taking your retirement into your own hands are you ready for the responsibility of your SMSF investments to be funding your retirement? Do you know what the responsibilities of the trustees are? These are just some of the points we will go through with you.
As the trustee of your SMSF we can assist you in all your compliance obligations including financial statement preparations and lodgement of tax returns. Should you wish to set up a pension we can also assist in this area.
We provide a complete service for SMSF, which include:
• Initial set up of SMSF
• Preparing the tax return for the Self-Managed Superannuation Fund
• Preparing annual financial statements
• Audit of SMSF
When tax laws changed to allow SMSF’s to borrow money it really opened up a whole new arena in terms of investment strategies and goals. Most clients we see or who inquire about SMSF’s is because they want to buy an investment property. They want to know if they should borrow the funds or if the SMSF should borrow which opens up a whole new area. Whether it be for buying a property or simply investing in shares or term deposits we can assist you in all areas relating to SMSF.
We also audit SMSF and are registered with the Australian Securities and Investments Commission (ASIC). We provide this audit service to other accounting firms.
For more information please call us on (03) 9873 1000 or email us at firstname.lastname@example.org
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