Running a Self Managed Superannuation Fund (SMSF) requires a lot of time and effort but with the assistance of our SMSF team, these obligations can be reduced. Our SMSF team provides assistance with the establishment and ongoing management of your SMSF, including the establishment of compliant trust structures, preparation of annual accounts and tax returns. We are also here to assist trustees and members in meeting the numerous compliance requirements of an SMSF.

Compliance assistance

The compliance requirements of SMSF’s are onerous, but we can assist you in meeting these by undertaking the tasks below:

• Establishment of SMSF and any trustee structures (if applicable)
• Minutes of meetings of trustees
• Assistance in meeting legislative and compliance requirements on and behalf of members and/or trustees
• Pension establishment and/or amendments
• Wind up of an SMSF

Accounts, tax return preparation & audit

SMSF’s are legally required to prepare annual accounts and an audit of which we can assist you by undertaking the below tasks:

• Preparation of financial statements
• Preparation of regulatory returns
• Audit of SMSF
• Signed off by a registered tax agent and/or registered SMSF auditor

Development of investment strategy

We will assist you in meeting the legislation requirement of all SMSF’s to have an investment strategy. This document outlines the targeted asset allocation of the fund and takes into account each member’s wishes and comfort levels with risk versus return.

• Provide assistance in the preparation and ongoing review
• Referral to a qualified financial planner to review your investment mix or to establish a portfolio
• Referral to a qualified financial planner to review the members insurance needs

Ongoing management

Whilst the day to day management of a SMSF is an obligation of the trustees, we can assist with the preparation of minutes and other ad-hoc tasks as listed below:

• Full administration of the fund
• Advice concerning compliance matters
• Advice concerning taxation planning
• Assistance with the rollover of external superannuation funds
• Guidance to ensure the requirements for pension withdrawals and contribution meet legislated limits

Estate planning

Estate planning is a very important aspect of SMSF’s that is regularly overlooked. It is important that your wealth is distributed to your beneficiaries in accordance with your wishes and in the most tax effective manner.

Utilising the expertise of our financial planning team to assist you with the following:

• Discussions relating to your SMSF with regards to your estate planning requirements
• Discussing pension options in relation to deceased estates
• Assistance with the wind up of your SMSF in relation to deceased estates
• Assistance with binding death nominations

Financial Planning Services provided as an authorised representative of InterPrac Financial Planning Pty Ltd AFSL 246638. Please note that any taxation and accounting services are not endorsed nor the responsibility of InterPrac Financial Planning Pty Ltd