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:

  • 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
At Secure Tax we collaborate with relevant AFSL holders to provide the professional advice you need to ensure all your compliance needs are met.

 

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