Welcome to Taxfin Business Services, your trusted partners in navigating the world of Self-Managed Super Funds (SMSF). Our experienced SMSF accountants are here to assist you with quality and timely services. Whether you already have an SMSF or are considering setting one up, we will endeavour to provide the requisite support in setting up and managing the SMSF including preparation of financial statements, SMSF audit through our associates, Accounting, ASIC compliance, Book-keeping and BAS.
SMSF can provide you with a control and management of your Super investments with a level of control over your financial future. Imagine having the power to shape your investments and understand precisely how your wealth is growing. SMSFs offer a wider range of investment options compared to other superannuation funds. With some limited exceptions, a SMSF can invest in virtually anything providing that this also meets the sole purpose test and adheres to the regulations. This includes investing in direct property. With an SMSF, you can.
Like all super funds, your tax on investment income is capped at a low 15%. Furthermore, once your fund enters the pension phase, there is no tax payable. Our Self-Managed Super Fund accountants can guide you through the complexities of lodging annual tax returns and audits, ensuring you remain compliant with the ATO.
One of the unique advantages of an SMSF is the ability to combine your super assets with up to 6 members. All members are either individual trustees or directors of a corporate trustee of the fund. This means all members are involved in managing the SMSF such as your partner or family members. This pooling of resources creates a larger fund balance, unlocking a broader range of investment opportunities and saving on fees.
As your SMSF grows, it becomes more cost-effective, particularly when managed efficiently. The total cost of running an SMSF depends on your investments and engaging SMSF accountants.
At Taxfin Business Services, we prepare your financial statements, lodge your SMSF annual tax return, manage ATO communications, and provide detailed reports at a competitive rate.
A Self-Managed Super Fund (SMSF) is a private superannuation fund that you manage yourself. It gives you more control over your investments and retirement savings.
Setting up an SMSF involves several steps, including appointing trustees, creating an investment strategy, and registering the fund with the ATO.
Yes, there are regulations around SMSF investments to ensure they are made in the best interests of members.
The cost of running an SMSF varies depending on factors like the number of members and investments.