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Superannuation & SMSF

Superannuation

For many of us our biggest asset is our family home or our business.  The next most important holding which we have is our Superannuation fund balance.

Superannuation is tax effective way to save while working, so you can enjoy a regular income later in life when you retire.

hicks advisory superannuation & SMSF

 

We can assist you with:

  • SMSF administration, compliance and annual audit
  • Contribution and benefit planning and calculations
  • SMSF asset and investment compliance advice
  • GST within a SMSF
  • Death benefit calculations and advice
  • Annual review meeting
  • Advice regarding trustee responsibilities

Self Managed Superannuation Funds

There are many reasons why a client may choose to use a SMSF to operate their retirement savings, but the main reason is control over the fund. You must follow special rules when establishing and running a SMSF, including meeting your recording and reporting obligations, administrative requirements and managing tax reporting and payment obligations. Even when investing your super money you must follow special rules.

In addition the other benefits of operating a SMSF include;

  • Ability to choose a wide range of investment strategies including the ability to borrow using Limited Recourse Borrowing Arrangements (LRBA)
  • Ability to grow your superannuation balance in a concessional tax environment (accumulation) or a zero taxed environment (pension)
  • Significant estate planning benefits and flexibility
  • Asset protection advantages
  • Taxation advantages for allowable insurance policies

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