What is
Self-Managed Super
Self-Managed Super Fund Setup and Compliance
Many people wish to manage their own superannuation through a self-managed super fund (SMSF), however are uncertain about setup and ongoing compliance.
At A2Z, we offer a full suite service for the Administration and Compliance Monitoring of your Self-Managed Super Fund. A complete picture of your SMSF will be at your fingertips. You will have total choice on investment strategy, products and platforms. Furthermore, we can access technical support from SMSF specialists based right here in Australia (no overseas outsourcing or foreign call centres).
This service we offer includes the standard accounting, and audit requirements of the fund, but we also provide a mail box facility, all necessary minutes, notifications and declarations, and transaction compliance monitoring to ensure your fund stays compliance all year round.
Setting Up Your Self-Managed Superannuation
When setting up a Self-Managed Super Fund you have four main parts;
The Trustee
With the trustee you will need to decide if you will have personal or a corporate structure, both have their pros and cons, we do however recommend a corporate structure.
For this part documents are required to either appoint as trustee or establish a company as trustee.
The Fund
The Assets
The basic asset of the fund is a cash account, we recommend that the SMSF uses a Macquarie Cash Management Account, because its simple, easy to use, no transaction fees, and is easy to monitor and ensure compliance is maintained.
Limited Recourse Borrowing Arrangement (LRBA or Bare Trust)
This part is only required should you be looking for purchasing a real estate property AND using borrowed funds to do it.
Choosing a Personal vs Corporate Trustee for Your SMSF
The use of a Personal Trustee or a Corporate Trustee is mainly a decision related to borrowing within the fund. Most banks that loan to Self-Managed Super Funds request a corporate trustee.
There are also some additional benefits with estate planning and protection against legal claims. Should the risk be high for these items then a corporate trustee is also the preferred option
SMSF Online Administration Access
With our administration service you will have access to comprehensive online reporting to help you better understand your SMSF’s progress, it will also allow for better compliance, and more timely handling of issues rather than the traditional yearly shoe box of receipt method.
The online access will get you a complete picture of your SMSF. It is 100% cloud-based so you will always have access to any records or permanent documents such as SMSF trust deeds or estate planning documents.
Reports are available online 24/7 include up-to-date investment and performance information, contribution caps, pension minimum and maximums, member details and components, detailed financial statements and capital gains reporting, should they be required by you or us as your advisor.
Our Administration Service is divided into two parts. It is designed to provide a total package solution to your SMSF needs and simplify the tasks in running your Super Fund.
SMSF Admin
- Preparation of financial statements and lodgement of the annual SMSF returns.
- Facilitation of the annual independent audit by one of Australia’s largest and most respected SMSF auditors.
- Expert technical support from a qualified, experienced, and Australian-based team (no overseas outsourcing).
- Online reporting available 24/7 and updated daily.
SMSF Compliance and Monitoring
- Maintenance of all SMSF permanent records and preparation of all necessary minutes, notifications and declarations.
- Mail house services, if you wish our PO BOX can be utilised as central collection point for account material which will then be scanned and emailed to you.
- Complete flexibility around the accounts, investments and platforms you choose.
- Access for the establishment of bare trusts, and SMSF deed upgrades.