Self Managed Super Funds

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    How to maximise the benefits from your SMSF

    SuperannuationSelf Managed Super Funds (SMSFs) are a popular investment vehicle. They enable trustees to decide on their investment strategies and control their assets.

    Managing an SMSF is a considerable responsibility. It requires a meticulous attention to detail and a thorough understanding of superannuation law and practice. Burford Partners can help trustees to manage their funds properly.

    If you have an SMSF, or are contemplating establishing one, there are likely to be a lot of questions you need answered and other issues for consideration. Some of those are:

    • Is an SMSF right for me?
    • What assets can the SMSF buy?
    • Can the SMSF borrow money to purchase assets?
    • What are the compliance issues for a SMSF?
    • How can I maximize the benefits of a SMSF?

    The rules surrounding SMSFs are complex. You need to know what you can and can’t do with your SMSF and importantly, how to utilise your SMSF in the most effective way. There are also compulsory audit and compliance requirements.

    Burford Partners offers the full range of superannuation services, giving you access to both the advisers who can help you establish, manage and grow your superannuation, and the team that can ensure your SMSF is well run and meets all of its audit and reporting obligations.

    Audit of SMSF

    The Superannuation Industry Supervision Act 1993 requires trustees of a SMSF to have their fund audited each year by an approved auditor. Burford Partners meet the requirements as approved SMSF auditors.

    SMSF tax and accounting compliance

    To keep your fund compliant and maintain its beneficial tax status, you need an experienced team who can keep on top of the changing regulatory environment. Working to a high procedural standard, we ensure that you are kept informed of what is required to keep your fund compliant and ensure that all of your reporting obligations are met.

    Next steps

    If you need advice on whether you should establish a fund, the use of fund assets, the best way to structure contributions, and managing pensions, talk to a financial planner at Burford Partners. They will organise a time to have an initial conversation with you about your requirements and your goals.

    If you already have an SMSF, talk to a Burford Partners SMSF auditor who can assist you with your funds audit needs. They will organise a time to have an initial conversation with you about your requirements.

    If you choose to engage us to manage your fund's audit obligations, we will issue you with an engagement letter identifying the scope of what we will be doing for you, the likely cost and payment terms, and the terms that we operate under.

    Finally, we look forward to assisting you with all of your SMSF needs.

    *Services provided as an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are trading names of Count Financial Limited, ABN 19 001 974 625, Australian Financial Services Licence Holder Number 227232 ('Count') a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count is a Professional Partner of the Financial Planning Association of Australia Limited.

    Please note that any taxation and accounting services are not endorsed by nor are the responsibility of Count Financial Limited.