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Self Managed Superannuation Funds (SMSFs) allow you to make the ultimate decisions about what happens to your superannuation. You decide the investment strategy of your fund and determine what investments you wish to purchase, including shares, property, fixed interest, managed funds, artwork and other assets.
You might wish to include family members in your SMSF to boost the value of the Fund and provide greater economies of scale. This also gives you the opportunity to directly include your family in your superannuation and estate planning.
By having your own SMSF you are actively involved in your superannuation and can determine how your Fund operates, what advisers or brokers you wish to use and the level of fees that will be charged.
With the opportunities provided by the superannuation system, comes responsibility as trustee of your own SMSF. It is important that you enlist the help of an adviser that can assist with timely completion of your annual compliance obligations and is aware of the various superannuation changes as it affects your SMSF.
At Alyansa, we support you in your role as trustee. We assist you through the whole SMSF process, from establishment of your SMSF, operation of your Fund, retirement planning and commencement of pensions.
New SMSFs
In establishing a new SMSF we assist you with the following:
- Creation of new SMSF and trust deeds
- Related minutes including new membership and trustee declaration
- Binding death nominations and investment strategy
- Application of ABN, TFN and registration with ATO
- Establishment of bank account
- Establishment of corporate trustee
We would guide you in your new role as trustee of your own superannuation fund.
For more information about your role as trustee, please email a request to super@alyansa.com.au and we will send you a summary of your trustee responsibilities.
Established SMSFs
For existing SMSFs, we support you with your annual compliance requirements and provide superannuation and retirement planning advice when required.
Annually, your SMSF is required to prepare financial statements, which are independently audited. Upon completion of the audit, the Income Tax and Annual Return is lodged with the ATO.
Our annual SMSF compliance package includes:
- Financial Statements
- Member Statements
- Income Tax and Annual Return
- Investment Reports
- Pension Calculations
- Related Minutes
To view a set of sample reports, please email a request to super@alyansa.com.au
For SMSF that pay a pension, a PAYG Payment Summary is provided for members below age 60. Where a SMSF has both accumulation and pension accounts, we would arrange for an actuarial certificate to be prepared or assist the trustees with appropriate segregation of assets, to ensure the SMSF receives tax exempt status on its pension income.
The audit of your SMSF is undertaken separately by a specialist SMSF auditor who is qualified and independent. We liaise with the auditor throughout the audit process and handle any relevant queries.
In running your own SMSF, trustees often transact and handle the investment function themselves. Should you require specific investment support, we can refer you to an appropriate share broker or investment adviser. Additionally, with your authority, we can also assist with particular investment transactions.
Quarterly Reporting
Due to the automation of our processes, we provide you with quarterly reporting as part of our standard annual package.
Superannuation Consulting
As your SMSF evolves and your circumstances change, it might be necessary to review your superannuation to consider matters such as estate and retirement planning.
We can provide you with your superannuation options and assist with:
- Establishment of new members
- Appointment of new trustee/s
- Rollovers and transfer of superannuation
- Commencement of pensions
- Payments of pension or lump sum
- Transition to Retirement
- Death nominations
- Investment strategy
- Trust deed review and amendment
Accounting systems
At Alyansa we utilise BGL Simple Fund (BGL) to prepare financial statements, annual returns and investment reports for our SMSF clients. BGL is the leading industry SMSF software for accountants and advisers.
We also utilise Banklink for the provision of bank transaction information that is downloaded directly into our BGL accounting system. This ensures seamless transition of data and overcomes any problem with missing bank statement information.
For more information about our systems please click on the attached links: www.bglcorp.com.au and www.banklink.com.au.
Fees
Our fees are based on the time spent to complete your SMSF work, not on a commission or a % of the value of your SMSF.
At our initial meeting, we will discuss your specific SMSF and superannuation requirements and provide a tailored proposal to reflect your needs. We charge on an hourly basis and review the fee annually.
Our fees are competitive and we can agree a standard fee at the beginning of work, so that you are aware of costs in advance.
We normally have a turnaround within one month and will keep you informed of any issues or delays in the process.
Contact us
We would normally meet at your home or office, at a time convenient to you and to obtain a better understanding of your circumstances.
Should you wish to obtain a quote for your superannuation work, or would like to find out more about our SMSF and superannuation services, please contact us on ph 03 9813 5574 or by email at super@alyansa.com.au.
Alyansa Pty Ltd
Accountants and Superannuation Specialists
Suite 2, 668 Burwood Rd, Hawthorn East VIC 3123
T: (03) 9813 5574 M: 0413 184 090
F: (03) 9923 2713 E: info@alyansa.com.au
