Fixed-Price SMSF Accounting – Simplifying Super, Securing Your Future
Get reliable, end-to-end SMSF accounting and tax services at a fixed price. We take care of the compliance so you can stay in control and focus on growing your super with confidence.
At autoSMSF, our team of specialised tax accountants are dedicated to simplifying the management of your Self-Managed Superfund (SMSF). We excel in navigating the complexities of SMSFs, ensuring strict adherence to rules and regulations. As tax experts, we meticulously handle all the details, efficiently preparing your SMSF tax returns. Additionally, we maintain expertise in auditing SMSFs, ensuring the optimal health of your funds. With autoSMSF, you have a dependable partner to streamline your Superfund matters, customizing your financial journey to meet your specific needs.
Our pricing is transparent and fixed, devoid of any hidden costs. Unlike other SMSF tax accountants, we don’t impose additional charges for actuarial certificates, pension commencement documents, and similar services.
SMSF Financials & Tax Returns
At autoSMSF your assigned SMSF tax accountant plays a vital role in managing your Self-Managed Super Fund, offering a yearly overview of its financial health. Regardless of tax liability, the fund must submit its annual return, encompassing assets, liabilities, income, expenses, contributions, and investments. These documents ensure compliance with superannuation laws and determine tax obligations. It’s crucial to entrust their preparation to a certified professional specialising in SMSF regulations. Accurate and compliant financials, meeting the ATO’s reporting standards, are essential for maintaining compliance and informed decision-making regarding the fund’s finances and investments.
SMSF Audit
SMSF audit is a crucial, legally required process for managing a Self-Managed Super Fund. It involves a thorough examination of financial statements, ensuring adherence to laws and accuracy of fund activities. Conducted by an independent auditor for impartiality, it reviews statements, income, expenses, assets, and compliance with regulations, including related-party transactions. The Audit Report provided afterward is crucial for assessing compliance. Non-compliance can lead to penalties and loss of tax concessions. For this reason, autoSMSF employs a qualified, independent auditor to fulfill audit obligations and maintain compliance.
SMSF Setup
Setting up an SMSF requires regulatory requirements, like appointing trustees, creating a trust deed, and setting up a bank account. There are two trustee structures: individual and corporate. The individual structure gives members direct control, but it can get complex with changes or emergencies. The corporate structure involves a company as trustee, offering more flexibility, legal protection, and separation of assets. The choice depends on personal circumstances, so seeking professional advice is crucial for a well-informed decision during setup. For more information, contact our office or check on ATO website.
Bare/Holding Trust Setup
A bare/holding trust is a legal arrangement that holds assets on behalf of an SMSF, commonly utilised for property investment through borrowing. It comes into play when the SMSF seeks to borrow funds from an external source for investment. This is commonly known as Limited Recourse Borrowing Arrangements (LRBA). This comprises a Corporate Trustee and a Bare Trust. The process involves choosing a corporate trustee, creating a trust deed delineating roles, and adhering to regulations. The bare trust cannot be set up until you’ve identified the property the SMSF intends to purchase. For more information, contact our office or check on the ATO website.
Our Pricing
all prices inclusive of GST
Frequently Asked Questions
What is an SMSF, and how does it work?
An SMSF (Self-Managed Super Fund) is a private superannuation fund (trust) that gives members control over their retirement savings. Unlike retail or industry super funds, SMSFs allow members to make their own investment decisions. SMSFs must comply with regulations set by the Australian Taxation Office (ATO) and have no more than six members.
Who can set up and manage an SMSF?
Australian resident over 18 who is not a disqualified person can set up an SMSF. Trustees must comply with superannuation laws and ensure the fund operates for the sole purpose of providing retirement benefits.
How long does it take to set up an SMSF?
Setting up an SMSF typically takes between two to four weeks. The process includes obtaining a SMSF deed, registering the fund with the ATO, setting up a bank account, and transferring any existing superannuation funds into the SMSF.
What are the costs involved in setting up and running an SMSF?
The costs of setting up an SMSF vary, but they usually include fees for establishing the SMSF deed, registering with the ATO, and setting up a corporate trustee if applicable. Ongoing costs include accounting fees, independent audit fees, ATO supervisory levies, and investment management fees. If using autoSMSF, you will pay fix setup cost. Check our fixed cost under Services.
Can I have overseas investments in my SMSF?
Yes, an SMSF can invest in overseas assets such as international shares and property. However, trustees must ensure that these investments comply with superannuation laws and do not affect the fund’s compliance.
FAQ
Which services are included under “SMSF Services”?
Fund setup, accounting & bookkeeping, tax returns, audit coordination, compliance reviews.
Can I use only one service (e.g., audit) instead of the full package?
Absolutely. You can engage us for individual services or a full suite your choice.
Do you liaise with my financial planner or property adviser?
Yes, we coordinate with other professionals to align your SMSF strategy.
How often does compliance need review?
SMSF compliance must be reviewed annually or whenever there’s a change (e.g., new investments, trust deed changes).
Will I be automatically charged extra for changes or additions?
No. Any changes are quoted in advance; you decide whether to proceed (fixed cost basis).