Self-Managed Superannuation Funds are a great way to take control of your retirement and build your own wealth. They can also be complicated and time consuming. That’s where we can help.
Gillett & Associates will support you in establishing your very own Self-Managed Superannuation Fund (or SMSF) and bring clarity and understanding to all your initial enquiries. As your SMSF coach and consultant, we’ll work with you to ensure you’re working towards your financial goals as effectively as possible. Our Compliance Service will see all facets of annual compliance taken care of, including preparation of financial statements, income tax returns and audit requirements.
Simplify the SMSF set up process
Provide all financial reporting requirements
Help complete all required ATO documentation
Organise an independent auditor for your SMSF
Keep you up to date with the latest in SMSF compliance and regulations
Here to support you and provide help when needed
One of the key benefits of an SMSF is investment control. Explore wider investment options such as residential and commercial property, collectibles, term deposits, direct shares, and more. A successful portfolio can be compared to industry and retail super funds, but with SMSF, you are in control.
Special rules allowing SMSF’s to borrow mean that SMSF members can now purchase large single assets such as residential property that would otherwise be outside of their reach.
Aside from a defined benefit super fund, such as a government employee fund, most other superannuation funds offer a tax-free pension as an income stream upon retirement. SMSFs stand out as they give you increased flexibility more than any other superannuation structure. Control your contributions, the timing of contributions, allocate earnings to your choice of members and implement ‘reserves’ for a personalised plan that suits you.
When it’s time for you to enter retirement, an SMSF will allow you to seamlessly transition from the accumulation phase to the pension phase. As you forgo the need to sell down assets, you also avoid triggering capital gains tax (CGT) and other transactional costs that can prove to be costly.
There are many useful estate planning benefits currently built into Australia’s superannuation system. But did you know an SMSF can offer you even more benefits? With a SMSF you can gain control and exercise flexibility over your estate plan in ways that suit you. Ensure funds from your SMSF go to the right people, at the right time, in the most tax effective way possible.
All business owners understand the importance of asset protection, not only for your business, but also to guarantee your financial future. Superannuation provides the structure to protect its members in unfortunate situations such as litigation and bankruptcy. In either of these events, your superannuation benefits are likely to be protected from creditors, giving you added peace of mind.
Most people share a life goal to work hard and save for a comfortable retirement. In cases where fund balance is high, the cost of having SMSF can be lower than alternative public offer super funds. The average cost of annual administration is around $2,000 to $3,000 p.a, which includes audit and accounting fees.