Self Managed Super Fund

A Self Managed Super Fund
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A Self Managed Super Fund

Why get a SMSF?

Due to their excellent benefits Self Managed Super Fund's are very much the trend for holding retirement savings. Over 1 million Australians have switched from Retail or Industry Fund to SMSF. However an SMSF is not right for everyone, there are important factors to consider.

The Advantages of an SMSF:

  • Gives you control over investment choices

  • Opportunity to reduce income tax on investment income and capital gains.

  • Increased flexibility of asset selection eg. SMSFs can hold direct property, unlisted shares or  artwork.

  • Provides control over your total investment portfolio.

  • Allows you to own your business' real property (but not operating assets) in the super fund, assisting funding and cashflow problems for many businesses

  • Wider choice of investments, particularly direct residential or commercial property, which allows you to borrow in order to invest in property.

  • You can manage up to 4 members in one SMSF

 
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Setting up a SMSF

Peer Wealth can assist you with the establishment of your SMSF and take care of all the administration paperwork. Our SMSF set up service also includes advice on wether it the right option for you as SMSF's are not for everyone.
 
Establishment services include:
  • Providing the SMSF Trust Deed

  •  Providing documentation to appoint Trustees

  •  Providing Trustee Declarations

  • Lodgement of an Election for your SMSF to become a Regulated SMSF

  • ATO Application to obtain a Tax File Number for your SMSF

  • ATO Application to obtain an Australian Business Number for your SMSF

  • Resolutions and minutes to acknowledge the establishment of your SMSF

  • Providing an investment strategy template

  • Advice on wether its a suitable option for you

Our price is $2000 + GST

 
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Compliance / Annual Taxation for my SMSF

Are you too busy trying to earn money that you don't have time to manage your SMSF ensuring it meets all legal requirements? SMSF's can be complex and managing your own is not for everyone. However this is our job! 

We believe in providing an up front fixed-fee for each SMSF based on the services you require.

Get a quote with 24 hours - to receive a quote via email you will need to email your financials. Alternatively contact Peer Wealth ( accountants@peerwealth.com.au or (02) 8014 7608 ) to arrange a consultation meeting where we will provide you with a fixed fee.

Administration and Accounting Management services we provide include:

  • Preparation and lodgement of the annual SMSF taxation return

  • Option for us to manage all of your investment mail and paperwork​ 

  • Liaising with the ATO where required

  • Liaison with the Auditor of your SMSF on your behalf in order to obtain the annual audit report

  • Preparation and maintenance of the capital gains tax register, provision of investment reports

  • Preparation of annual minutes for the Fund

  • Access to an online portal of your SMSF where to can easy view and manage how your investments are going ect

  • Phone and email support

We can also help with any changes:

Peer wealth can assists you with any changes you require to your existing SMSF. You may need to update your Trust Deed to ensure it is current to recent legislative changes or maybe you have recently married and would like to add your partner as a member. What ever it may be we can help with the change ensuring if meets all legal requirements.

 
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How much does a SMSF cost to run?

The ongoing administration cost will be determined by the complexity and size of your fund and whether it’s in Accumulation or Pension mode. The total of fees to run an SMSF will range from $2,000 per annum for a simple fund to around $5000 per annum for a more complex fund. We provide clients with an upfront fixed fee based on the services you require.

 
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I need help managing / investing

Having an SMSF means you can invest in the usual investments such as shares, term deposits, managed funds and property but you can also hold alternative assets such as antiques and artworks in a SMSF. It also means that with these options comes responsibility and decisions.
 
Investment help
With an SMSF you have the control to choose where you invest your money. Buying shares can be very hit and miss if you are not familiar with the forever changing investment world. If you would like to sit down with a qualified financial advisor who is up to date with the current markets, opportunities and legal requirements, he can help create an investment plan that is suitable to your situation and goals. Our advisors have accrued years of experience in helping people prepare for retirement, crafting incomes for many long, secure and enjoyable post work years.
Planning for retirement
Are you worried about having enough super to retire when the time comes? Do you know if your will have enough? Are you on the right track to be able to support your lifestyle? Peer Wealth's advisor can assess you in relation to your current position, future plans and ideal retirement lifestyle, and advise you on the right plan helping ease the stress and providing confidence. We have accrued years of expertise in helping people plan for retirement using wealth creation strategies and creating suitable investment plans that craft incomes for many long, secure and enjoyable post work years. Visit our Wealth Management page for more information or contact Peer Wealth to talk to an advisor now.
Buying property within super
With an SMSF you have the option to increase your retirement funds by investing in property, however this is a strictly regulated area and may not be the right option for you. Check out our Buying property in Super section to get an insight into this investment option. If you have any question within this area its best to talk over the phone or arrange an appointment so that we can address your situation and provide tailored advice.
Our contact details:  accountants@peerwealth.com.au   (02) 80187608
 
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Buying property within super

So you have heard  that you can buy an investment property with your superannuation? 
 
The following information is just a few of many points when it comes to buying property within an SMSF. It can be a great retirement plan but ensure that you either; learn all the rules and requirements or seek professional advice before diving in.
It can be a great way to invest for people who are 15-25 years away from retirement for 2 reasons; 1. you are more likely to have sufficient funds for a deposit, 2. you are more likely to be able to hold on to the property until after retirement to access the best tax saving benefits.
When investing within SMSF's you need to meet the Sole Purpose test which ensures that the purpose of the investment is in the best interest for all fund members. This means you need to take into account the personal circumstances of all fund members and ensure that the property investment has an income stream and realistic prospects for capital growth. 
Advantages when it comes to buying property within super:
  • Couples or family members can combine their super within SMSF's allowing for a larger purchase;
  • The earnings within your SMSF are taxed at only 15% with a 33% discount for assets held more than 12 months most likely making it a tax effective strategy;
  • You can make repayments from pre-tax dollars if you have room within your concessional contribution limits;
  • You can buy a commercial or industrial property to lease back to your own business (know as Business Real Property).
Cons when it comes to buying property within super:
  • You cannot purchase from, sell to, or rent to someone related to any of the fund's members;
  • Having all your eggs in one basket can be risky - make sure if you invest your funds in 1 or 2 large assets that you have an insurance plan and 'what if' strategies;
  • It's not great for negative gearing;
  • You must be certain of future cash flow;
  • You can not use the borrowed money to improve the property, repairing or maintaining the property is okay​ if they meet the requirements.
Investing in property within your SMSF is not as straightforward as investing outside super. It is a highly regulated area and one to not experiment in with the penalties being expensive. There are many tips and confinements to be aware of, if you are wanting to explore this investment option and would like to learn in relation to your situation then you can arrange a call or meeting with our SMSF specialist. Visit our contact page for our details or leave us a message.

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Peer Wealth Pty Ltd is a Corporate Authorised Representative (Representative No, 001281977) ABN 24 115 294 463 of Futuro Financial Services Pty Ltd, Australian Financial Services Licensee (AFSL 238478)

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P: (02) 8014 7608

E: info@peerwealth.com.au

Postal Address:

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Manly NSW 2095

This website contains general advice only. You need to consider with your financial planner (or adviser), your objectives, financial situation and your particular needs prior to making an investment decision. Futuro Financial Services Pty Ltd and its authorised representatives (or credit representatives) do not accept liability for any errors or omissions of information supplied on this website.

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