A Self Managed Super Fund (SMSF) functions like any other superannuation product. It holds your retirement funds and invests on behalf of its members for their retirement. The key, however is that members act as Trustees and are in total control of the Funds strategy and are responsible to conduct the Fund correctly.
With greater control over our retirement funds comes added responsibility with SMSF regulation but we at GARTLY are here to help you to ensure that as Trustees you apply the superannuation and taxation laws that apply to Superannuation Funds and their Trustees.
After an indepth discussion with you, if it is appropriate your existing super held in Industry Funds can be easily rolled over in to your new SMSF. Your employer or business can contribute into you new Fund with ease.
In establishing the new SMSF issues such as Life insurance and use of Loans within the SMSF can be discussed with you to make the right decisions and your build retirement nest egg.
As SMSF setup accountants in Melbourne we will show you the steps to take to make this easily happen. Once your new SMSF is established you can take control and invest in arrange of investment opportunities such as :
Small Businesses can also take advantage of purchasing Business Real Property, which can be rented for the Fund to your business. We can also assist you in establishing a property with borrowings within our Fund and ensure it meets the ATO establishment Trust rules.
We do not provide financial advice for your SMSF, but the costs of consultations with Financial Planners are tax deductible and we can refer you to a Trusted Adviser if required.
At Gartly & Associates we complete all the yearly accounting needs and auditing and lodge the annual Fund Taxation Return for you. This is necessary to comply with superannuation and ATO law.
With new laws for SMSF Trustees face hefty penalties from the ATO if SMSF breaches are made
When it comes to retirement, we can also assist you to understand when to take a lump sum, transition retirement strategy or an aged pension.
In doing so we can ensure that your Deed complies with the current pension rules and also help with the necessary documentation that is required to implement the pension.