Self-managed super funds (SMSFs) allow people to control their own super investments for their retirement. If you set one up, you're responsible for running it in accordance with the law and reporting to the ATO on its operation Once you set up an SMSF you become a trustee of the fund. This means you'll be responsible for managing your SMSF according to its trust deed and the laws and rules that apply to SMSFs. The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to fund members. It gives you wider investment choice and greater control over investments and flexibility in the payment of retirement benefits, such as pensions and annuities, directly from the fund.
Benefits Of Self Managed Super Fund:
Below are some of the advantages of setting up SMSF.
Being able tinvest, sthat income and capital gains are taxed at the lower superannuation tax rates. These rates can be as low as 0% and nhigher than 15%.
Being able tinvest in a wide range of assets, including direct property, which are not normally available in traditional super funds.
Being able tstructure income streams or pensions in a very tailored way, that suits you and your family.
Being in control of all key decisions, including investment decisions, but still having the ability take advice from specialists. You will need specialist accounting, taxation, investment, estate planning and strategic advice for your fund.
SMSF can give you the ability ttransfer personally owned shares and some property intthe fund.
SMSF can be used tbuy business premises for use in your business.
How we Can Help:
Setting up Self Managed Super Fund:
UBS Can help you in establishing your Self Managed Super Fund.
Preparing your SMSF Deed.
Completing and Lodging your ATapplication forms.
Providing Trustee declarations.
Establishing a bank account on your SMSF name.
We provide the following services for your self managed super fund to ensure you meet your compliance requirements of your SMSF.
Preparing and lodging your SMSF's annual income tax and regulatory returns.
Preparing your SMSF's annual financial statements.
Preparing all necessary minutes of meetings.
An annual audit of your SMSF.
Preparing all paperwork required tstart and administer pensions within your SMSF.
