Self-Managed Superannuation Funds (SMSF’s)

We’ll work with you to make this process as easy as possible

 

The taxation laws around Self-Managed Superannuation are complex and can be difficult to understand and plan for, especially with all the changes that have taken place over the last few years for retirees.

We can help you navigate the SMSF minefields and give you up to date taxation advice to help minimise your tax obligations, maximise your member balances and minimise the tax obligations of those that receive your superannuation death benefit. We also prepare Annual and Interim SMSF Financial Statements & Income Tax Returns.

We also work with external Financial Planners who can help you with your investment strategies and wealth creation.

Frequently asked questions

 

  • Setting up an SMSF is simple. At Chatham House Accounting we use 3rd party solicitors to set up the SMSF Trust Deed and paperwork for signing. From there we apply for a Tax File Number and ABN. You then take this information and Executed SMSF Deed to your bank and set up a bank account for the fund.

    We then help you with the paperwork to lodge with your current Superannuation Fund to transfer funds from your current super balance to your SMSF bank account. You are now ready to start investing through your SMSF.

    Each financial year the SMSF needs to prepare Audited Annual Financial Statements & Income Tax Return which Chatham House Accounting will prepare and lodge with the ATO.

  • SMSFs are not for everybody and in most cases there is no need for a SMSF. However an SMSF may be a suitable alternative to an industry/retail fund where (but not limited to):

    • You want more control over the investment choices/strategies of the fund

    • You wish to purchase real property (both residential and commercial)

    • You want to borrow funds to invest within your superannuation fund

    • You want to purchase equity in an unlisted company/unit trust

    • You are a business owner and you want to set up an SMSF to purchase the commercial property you operate your business out of with your superannuation funds

Any questions before getting started?
Get in touch.