Self Managed Super Funds (SMSF)
As an Integrated Financial Services company, we are helping out customers with Tax & Compliance requirements around SMSF.
Self Managed Super Funds (SMSF) now control nearly a third of all the money invested by Australian Superfunds (based on September 2013 report issued by APRA)
Self Managed Super Funds are regulated by the Australian Tax Office and are considered a valid and relevant path for you to manage your retirement funds. We strongly recommended that you make a decision on opening an SMSF only after speaking and consulting with an ASIC-certified financial adviser (make sure you ask to see their AFSL/AFS license).
Our customers are telling us that one of the main reasons why they end up deciding to open an SMSF is being in charge and in control of how the funds are being invested!
You make the investment decisions for the fund and you are responsible for complying with the law. There are detailed and strict laws as to what you can and can't do with the fund and list of regulations you need to comply with.
Deciding if an SMSF is a valid option for you depends on your personal situation, the ATO and we recommend you see a qualified, licensed financial adviser professional to help you decide.
Lynden Group Melbourne can help you set up an SMSF after you made your decision and have been advised by a licensed financial adviser. Once your SMSF is up and running we will enable you to meet the ATO requirements around tax and compliance.
SMSF popularity and usage as more and more Australians wish to have more control over their retirement investments. There are A LOT of tax benefits and compelling arguments as to why SMSF are beneficial. For example, SMSFs are subject to income tax but receive concessional treatment if they are complying funds. A complying SMSF’s taxable income is generally taxed at a rate of 15%, compared with 45% for a non-complying fund.
The ATO has listed all relevant information in the following link Understanding Tax SMSF
Give a call and we will explain you further. Once you decided that SMSF is the right choice for you, we can help you set one up and assist with ensuring it is compliant