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Advantages of a SMSF

Control - As a trustee, you are responsible for setting the investment strategy of the fund and determining the asset mix. You are also responsible for monitoring and reviewing your investment strategy on an ongoing basis. So, in effect, you are in control of your retirement nest egg.

Flexibility - SMSFs give you greater flexibility when it comes to investing your assets. You are responsible for deciding the investment strategy of the fund and investing the assets accordingly. You also have more options when you retire. You can pay yourself certain types of pensions out of the fund, and enjoy a tax-free income stream.

Estate planning wishes can be enacted quickly and smoothly providing you have made some type of death nomination. This means your dependants or legal representative can receive payment much sooner, relieving any financial burden upon your death.

Fees - You have greater control over the fees you pay. By choosing your investments carefully and keeping transactions to a minimum, you can reduce the ongoing fees of the fund.

Tax - Investment income is taxed at the concessional superannuation rate, which is a maximum of 15 per cent (higher tax rates may apply if the fund is considered by the regulator to be not complying with certain provisions of superannuation law). This compares to investments held in your own name, which can be taxed as high as 46.5 per cent.

Funds with Australian shares exposure can take advantage of the dividend imputation system. Given the tax concessions applying to SMSFs, excess franking credits can offset other fund tax, such as contributions and investment tax, and reduce the total tax you pay.

In some circumstances these excess franking credits can be refunded from the ATO to the fund.

Superannuation tax is a complex area so it is worth seeking advice from Mark Dowling or Gary Cutler to ensure your fund is taking advantage of tax-smart strategies as they are registered Tax Agents with the Australian Taxation Office (ATO).

Our comprehensive SMSF Management Service Includes:


[
Maintain an up to date online register of assets, including listed securities, fixed interest, managed funds, direct                 property and unlisted assets.

[ Regular reconciliations of your transactions during the year

[ Quarterly reporting

[ Maintaining individual member records, including details of contributions and pension payments throughout the year

[ Maintaining member components and preservation components

[ Maintaining multiple member accounts for the same member

[ Maintaining reserve accounts

[ Arranging tax payments and other associated invoices

[ Pro-active assistance in relation to optimising tax components

[ Pro-active CGT optimisation

[ Preparation and lodgement of ATO Tax Return

[ Preparation of financial statements for independent audit

[ Pro-active advice on minimum pension obligations

[ Pro-active SIS compliance review and sign off. (E.g. Trust deed, investment strategy, death benefit nominations, etc.)

[ In-house documentation service to support all fund transactions

If you would like to know more about what we offer, or if a SMSF is right for you , please call our office to arrange a meeting with either Mark Dowling or Gary Cutler.

Self Managed Superannuation Fund (SMSF)


Services to Self Managed Superannuation Funds (SMSF) are one of Life Insurance and Super Pty Ltd core businesses. So much so that our Advisers and Administrators have special qualifications and training in this area. In December 2005 Gary Cutler, and in 2012 Mark Dowling were appointed as SMSF Specialist Advisers by the Self Managed Super Fund Association (formerly known as SPAA) after a rigorous independent assessment by Global-Mark Pty Ltd .

So, why have SMSFs become so popular with many Australians? Many people like the control of managing their financial destiny themselves and enjoy the increased flexibility of a SMSF, but it is not for everybody. SMSFs can take time to establish and administer.

This is where Life insurance and Super Pty Ltd steps in. Our SMSF Management Service allows you take up all of the advantages of a SMSF but not the burden of establishment, administration, compliance and having to handle all of the paperwork which is all done for you. We also provide strategic and investment advice and can buy and sell most types of investments. On the occasion where we cannot access a particular investment we can refer you to an appropriately qualified person to assist you with the transaction. Where appropriate your Life Insurances can also be linked to your SMSF account.


“With the advent of and growing popularity of Self Managed Super, Gary recommended a switch to this format to take advantage of the flexibility and management benefits. He organised and managed the whole process with the minimum of fuss and continues with the ongoing management. All this adds up to a stressless retirement with more relaxation time for self enjoyment which I see continuing for many years to come. Thanks Gary and Life Insurance and Super..”

Mr & Mrs Allsop,
Beaconsfield WA