Self-managed Superannuation Funds
Ian Crilly is an SMSF Specialist Advisor™ accredited with the SMSF Association, with over 30 years' experience in attending to taxation, administration and compliance matters relating to self managed superannuation funds (SMSFs).
SMSFs are financial products and as such, some areas of advice require a licensed financial adviser with an Australian Financial Services Licence (AFSL) to provide a statement of advice before proceeding. Examples would generally be establishing a fund, commencing pensions and making financial investments. Secure Tax is not a licenced financial advice firm and does not provide investment advice or other advice that requires an AFSL, however, we work with appropriately qualified independent colleagues who assist in providing relevant licenced advice.
At Secure Tax, we assist with the practical implementation of the licenced advice. An SMSF enables you to control your investment strategy, reduce tax while obtaining tax benefits, control administration costs and importantly achieve customised estate planning outcomes. However, it is important to ensure an SMSF is right for you.
Services we offer include:
- Assistance with the compliance & administration requirements of establishing SMSFs
- Fund annual administration and compliance
- Preparation of financial statements and tax returns
- Arrange superannuation fund audits & actuarial certificates
- Advice on tax and SIS compliance matters
- Advice on taxation consequences of transactions
- Advice on employer obligations
There are several trust laws and legislative requirements for setting up an SMSF. Typically, you need to:
At Secure Tax we collaborate with relevant AFSL holders to provide the professional advice you need to ensure all your compliance needs are met.
- Obtain a trust deed
- Appoint trustees, including deciding the type of trustee structure
- Sign a trustee declaration (NAT 71089)
- Elect to become a regulated fund
- Obtain a tax file number (TFN)
- Obtain an Australian business number (ABN)
- Formulate and implement a compliant Investment Strategy
As unpleasant as the task is, estate planning is one of the necessities of life. Knowing your hard-earned assets will be dealt with in the manner you choose provides peace of mind.
For business owners, a plan for succession of ownership is essential. We can guide you through the process of providing for business continuity.
The executor and trustee of a will are required to perform a number of duties. At Secure Tax Pty Ltd we are experienced in estate planning and can guarantee no deviation from the succession plan for your assets.
The areas in estate administration that we can assist with include:
- Meeting to discuss objectives for your estate
- Confirming assets - Valuations, inventories, and appraisals
- Court approval for a grant of administration
- Documentation involved in estate planning
- Protecting the assets
- Paying taxes and debts
- Estate distribution
To ensure the long-term success of your business, it is critical to establish a well-designed succession plan. Coordinating the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation, removing the stress from your shoulders.
Contact us for more information on forming a plan that facilitates a hassle-free continuation of your business!