Self Managed Super Funds
Self Managed Super Funds
SMSF Trustees are required to prepare an annual set of accounts; have these accounts audited by an approved auditor; and then lodge an annual Superannuation Tax Return with the Australian Tax Office. Most SMSF funds need to be audited before the end of May each year.
Here at Prouse, our team of self-managed super fund experts can prepare the necessary Financial Reports and Income Tax Returns and arrange an independent Compliance Audit for you. We can also answer any questions that you may have in regards to your SMSF, ensuring you know and understand all your obligations relating to your SMSF.
At Prouse Family Accountants, self managed super funds are our speciality. We have over 20 years’ experience overseeing the self managed super funds of many individuals and families, based all over the state -from Marmion to Mandurah. We understand that all self managed super fund trustees need to keep up to date with fast moving financial markets and changes to rules and regulations. That’s where we come in. We continually work with our clients so they feel confident navigating the SMSF world.
Why Are Self Managed Super Funds Becoming Increasingly Popular?
Self managed superannuation funds or SMSF’s are becoming a common way for tax payers to plan for their retirement. This is because SMSF allow for greater control over ones’ finances and retirement planning than other superannuation funds. They also allow for better personalisation and can be altered to suit the individual needs of the trustee, rather than being structured to benefit the collective interests or members like an industry and retail super fund.
However SMSF’s do require more organisation and cooperation from the trustees end and every year, trustees need to have an Annual Financial Report, Tax Return and Independent Audit Report prepared. As well as knowledge of and compliance with government regulations regarding self managed super funds, which can often be challenging due to the fickle nature of legislation. Luckily for our clients, we’re SMSF specialists and are well versed in all legislation regarding superannuation. We offer a full set of SMSF services to ensure that our clients funds are set up properly, are in accordance with all regulations and then managed perpetually.
Our SMSF services include:
Setting up a SMSF
Annual Financial Statements
Income Tax Returns
Independent Compliance Audit
Fund Administration (minutes, reports etc)
UK Pension Transfers
Wondering whether a self managed super fund is right for you? Are you considering establishing an SMSF but are unsure how to set it up? Contact Prouse today and speak to one of our self managed super fund experts by calling any of our offices. We can provide you with all the necessary information and help you determine the best option for your retirement savings.