Self Managed Super Fund – SMSF Consultancy Services

We povide high quality strategic advice to ensure members obtain the maximum benefit possible from their SMSF, whilst also considering their overall financial position. We analyse all factors, both within the internal and external environment of SMSF’s, with our consulting advice covering:

  • Development of the most beneficial family group structures to maximise taxation benefits, income streams upon retirement and family wealth succession benefits available through the use of an SMSF
  • Development and implementation of retirement benefit strategies
  • Contribution/Accumulation strategies
  • Advice on compliance with superannuation legislation
  • Wealth generation through the use of the SMSF as an investment vehicle
  • Advice on strategic matters, including the use of reserves for estate planning and income suppression purposes

Self Managed Super Fund – SMSF Audit Services
The trustee of a SMSF is required to appoint an approved auditor to audit the operations of the SMSF annually. The role of the approved auditor is to perform an audit of the SMSF’s accounts (financial audit) and to assess the SMSF’s compliance with the relevant superannuation legislation (compliance audit) for a year of income. As an approved auditor, Schwarz & Reynolds provide:

  • Auditing services for SMSF’s including both a financial and compliance audit
  • An Annual Audit Report, in the approved form, to the Trustees of the SMSF.
  • A management letter to the Trustees advising of any areas of concern regarding the SMSF’s financial position and compliance with the relevant superannuation legislation.

Self Managed Super Fund – SMSF Administration and Compliance
Schwarz & Reynolds provide all administrative services required for SMSF’s to ensure the SMSF remains compliant with the rules as prescribed under the SIS Act, SIS regulations and Australian Taxation Office guidelines. Our services include:

Preparation and provision of;

  • Financial Statements and Returns. This includes the preparation of Annual Accounts, Member’s Statements, Income Tax and Regulatory Returns.
  • Annual Superannuation Documentation . This includes a Tax Payment Schedule for the current and future income tax year, Trustee Minutes, Death Benefit Nominations and an Appendix A which details the documents required to complete the SMSF for the relevant year.
  • Member Contribution Statements.
  • Member Contribution and Withdrawal documentation.
  • Annual Pension and PAYG Withholding calculations. This includes calculations based on the relevant pension taken; the tax payable on the pension; preparation of the member’s PAYG Payment Summary and the Annual PAYG Payment Summary Statement.
  • Business/Instalment Activity Statements and Annual GST Returns.

Assistance with:

  • Establishment of a Self Managed Superannuation Fund

Preparation and lodgement of the relevant forms to obtain:

  • A Trust Deed for the Superannuation Fund
  • The Australian Business Number, Tax File Number and Complying Fund status (issued by the Australian Taxation Office).

Self Managed Super Fund – SMSF Trust Deed upgrades
Preparation and lodgement of the relevant forms to obtain an amended Trust Deed. It is vital that a SMSF keeps its Trust Deed up to date so that the SMSF does not miss out on opportunities created by changes to the SIS legislation.

Self Managed Super Fund – SMSF Corporate Trustee appointments
Preparation and lodgement of the relevant forms to obtain:

  • Corporate Trustee;
  • Deed of Variation.

Self Managed Super Fund – SMSF Pension Strategies and Advice
SMSF’s are primarily formed to provide member’s with benefits upon retirement. Therefore it is vital for member’s to obtain specific advice, regarding their personal circumstances, to ensure they are minimising tax and obtaining maximum benefit when withdrawing their benefits from superannuation. Schwarz & Reynolds provide the following:

Provision of strategic and structural advice with respect to:

  • Re-contribution strategies. This is the conversion of a member’s taxable benefits to tax free benefits. This minimises taxation on the payment of a retirement income stream and/or payment of a death benefit on behalf of a deceased member.
  • Pension Establishment. This includes determination of the most effective income stream to minimise taxation and meet the member’s financial requirements whilst minimising taxation liabilities.
  • Actuarial Services. Preparation and lodgement of the required documentation to obtain an actuarial certificate for the SMSF for the relevant year. This enables any earnings or income, within the SMSF, attributable to a pension member’s balance to be exempt from tax .

Self Managed Super Fund – SMSF Estate Planning
Is a vital process for any individual. In respect of SMSF’s, it is important that estate planning strategies are in place and implemented to ensure beneficiaries achieve the most effective tax outcome .

Schwarz & Reynolds provide advice on:

  • Tax strategies in relation to superannuation death benefits
  • Testamentary and Superannuation Proceeds Trusts
  • Child Pensions
  • Binding Death Benefit Nominations

Self Managed Super Fund – SMSF Taxation advice
Includes all aspects of taxation advice with respect to SMSF’s, including various tax implications of SMSF management.

 

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We are happy to discuss on a no-charge, no obligation basis, any potential assignment.
Where appropriate we will submit a proposal detailing our understanding of the opportunities that you are
currently presented with and how, together, we can investigate and respond to them.