Self Managed Superannuation Funds (SMSF)

 


Accounting and Taxation

We take care of the following accounting and taxation compliance for Self-Managed Superannuation Funds:

  • Accounting and administrative functions
  • Preparation of annual financial & member statements
  • Preparation and lodgement of fund tax and regulatory returns
  • Preparation of business activity and instalment activity statements (if required)
  • Tax strategies to maximise funds tax free component by drawing lump payments and re-contributing these funds into superannuation as a non-concessional contribution

All of AS Partners SMSF staff are fully qualified and accredited members of the Self Managed Super Fund Association.

 

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Audit and Assurance

Approved ASIC auditors play a very important role in the self-managed superannuation fund market. The role of an approved auditor is to perform a financial and compliance audit of the self-managed superannuation fund’s (SMSF’s) operations for the income year and give the trustees a report in the approved form within the specified period after the end of the income year.

Each of our auditors has in excess of fifteen years SMSF auditing experience and is ASIC approved.

 

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Pensions

Income from SMSF can also be paid to you as a pension or what is now referred to as an “income stream”. The law now allows a SMSF to pay what is called an account based pension. This pension is calculated at the beginning of every financial year. The account based pension requires a minimum amount to be taken each year.

Our services include the following:

  • Pension initiation, including preparation of documentation necessary to commence an Account Based Pension (ABP) or a Transition to Retirement Pension (TRIP)
  • Necessary documentation to convert Allocated Pensions funds into Account Based Pensions (ABP)
  • Preparation of member’s annual pension calculations together with the required minutes
  • Actuarial Certificate application to ascertain funds exempted pension income for funds that are partly in pension and accumulation mode

 

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SMSF Establishment

AS Partners, upon your request will obtain, lodge, file and store all necessary documents for the establishment of a Self-Managed Superannuation Fund including, but not limited to:

  • SMSF trust deed
  • Incorporation of corporate Trustees, if required
  • Member applications & trustee consent and declarations
  • Preparation of minutes and resolutions of trustee meetings
  • Application for a Tax File Number & Australian Business Number
  • Preparation of Bank packs to assist with the setup of fund bank accounts
  • Binding death benefit nomination forms template (We highly recommend that you seek legal advice if required when completing this form)

 

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Supplementary SMSF services

  • Amendments/Replacement of fund trust deeds
  • Rolling over of benefits from existing Superannuation Funds
  • Advice regarding eligibility for a partial or a full government aged pension
  • Establishment of documentation allowing trustees to acquire property via the establishment of a bare trust through the use of a reputable Trust Lawyer

 

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