What is a self managed superfund (SMSF)?
An SMSF is basically a superannuation fund with one to four members who are also trustees responsible for the investment strategy and administration of the fund within strict Australian Taxation Office (ATO) guidelines.
There are now more than 300,000 self managed superannuation funds (SMSF) in Australia and the number continues to grow. In a volatile economic climate, taking control of your superfund is something that all Australians should contemplate if the means are available. A self managed super fund is a smart and flexible alternative for anyone who wishes to have independence and control when it comes to their long term finances.
At Stockx Accounting Services, our SMSF accountants know how to assess your situation so you can receive a highly personalised approach to your retirement finances. Rest easy knowing your financial future is secure and managed in your hands thanks to a Stockx SMSF accountant.
Why an SMSF Auditor is Important
If you run an SMSF, you must ensure that a registered SMSF auditor audits the fund annually to ensure the fund is compliant with strict ATO guidelines.
Your SMSF auditor will examine the validity and accuracy of the financial records. To discover how one of our SMSF auditors can help you, contact our Mount Waverley office today.
Understanding Why You Need an SMSF Accountant
Do you have a substantial amount in personal superannuation? As a guide, a minimum of $200,000 would be required due to establishment costs and ongoing management fees.
Do you enjoy learning about your investments and have the time to regularly review their performance?
Would you like increased flexibility in estate planning, more investment options and greater responsibility for your own retirement funds?
If you answered ‘yes’ to these questions, you may be suited to having your own SMSF.
Whilst there are potentially great benefits, having a self managed super fund requires time, effort and discipline plus they also attract extra ongoing fees including annual audit fees. Our expert SMSF auditors and accountants can help you with navigating the sometimes confusing arena of self managed super funds. Our friendly consultants can assess your situation and offer personal advice or strategies so you can get on the road to creating your own SMSF today.
