Self Managed Super Fund Services
What is a superannuation fund?
Many people think that superannuation (super) is in itself an investment. This is not the case, super is a tax structure. You can think of it as an account into which money can be contributed, and invested on your behalf, and is taxed in a different manner. In this sense, your super fund is similar to a rain tank and your job is to fill it up for a rainy day “your retirement”.
Things that will empty your super tank:
- Bad investments
- High fees
- Tax
- Spending (in retirement)
The good news is that a superannuation fund can conceptually invest in any investment you like. It also offers more flexibility in managing tax, especially capital gains tax which can eat significantly into your retirement capital. However, to have this freedom, you must set up your own DIY or self managed superannuation fund. This allows you to invest your superannuation money into:
- Cash or term deposits with any bank
- Corporate bonds
- Blue chip shares
- Property
- Collectables
- Gold
- Commodities or;
- Any other investments you want as long as this is allowed by the laws.
At Frontier Tax Services, we can help you set our own SMSF and work with you to help you use your expertise or draw on expertise of our allied professionals to invest and grow your superannuation. So you end up having your funds in ways you can control and moreover, you are likely to save a lot of fees.
What is a self managed super fund?
A Self Managed Super Fund (SMSF) is a form of superannuation fund that offers members greater control over their retirement savings than any other superannuation funds. The member is involved in managing their own fund, usually with the help of their accountant or an administration firm. In addition to the control, the SMSF also offer wider choice of allowable investments to the member including cash, fixed interests, direct shares, managed funds, property trusts, direct property and more. Their ability to pay retirement benefits, such as pensions and annuities directly from the fund means that the SMSF can be retained well into your retirement. This then provides the flexibility to determine the timing to dispose of growth assets during the pension phase when they are generally exempt from CGT provisions – a strong tax planning proposition.
Like any other super funds, self managed super funds must be established for the sole purpose of providing benefits to fund members’ retirement. They must adhere to strict provisions regarding the contributions, taxation, benefit payments, annual reporting, compliance regime, etc. Our experts at Frontier Tax Services are well experienced in all aspects of superannuation including setting up SMSFs and looking after ongoing administration. We also work very closely with your financial adviser and other professionals to ensure your fund complies with the strict regulatory guides on an ongoing basis.
Our SMSF Administration Service
Our self managed super fund administration is designed to look after you. We do not charge you exorbitant and percentage based fees using the balance of your account. Our service gives you a real-time overview of your superannuation and/or pension account(s). We help you set up your SMSF at very competitive prices and provide you a wide range of flexibility with respect to where you can invest without charging you exorbitant fees. We do this whilst providing quality customer service.
You can also ask us to act as a conduit between you and your other professional advisers, ensuring that everyone is on the same page with your future at no additional cost to you. Imagine for example that you want to buy property in a SMSF, by contacting us, we can help you to:
- Set up an SMSF
- Organise the instalment warrant “borrowing” arrangement
- Liaise with our allied professionals or your nominated ones to source a loan and a premium property for you and;
- Administer your SMSF for you.
How it works
Our hassle free approach is absolute peace of mind for you, knowing that you have dedicated professionals looking after you.
Click here now to download our SMSF Service Flyer and see the range of investments, banking institutions and other entities you can do business with in your SMSF
Why Frontier Tax Services?
We provide you high quality personal services at affordable prices and give you real time access to all your superannuation information through your personal login, giving you clarity over your superannuation picture. When we set up your account, we set it up in conformity with your nominated investment strategy. You can log into your account at any time and find out how your investment is performing against your nominated investment strategy and can monitor deviations from your strategy.
We not only bring affordable SMSF establishment services to you, but also ongoing administration and compliance. If you want to invest part of your superannuation money into shares or managed investment products, you have a very wide range of brokers to choose from as well as investment management platforms. If you prefer capital secured investments, you can invest your superannuation money in term deposits and have the information captured by our administration system. There is a wide list of banks and deposit providers you can choose from.
If you want to buy a commercial or direct property in your superannuation fund, we make your experience smooth and easy by;
- Setting up your self managed super fund and associated structures
- Helping you source a suitable loan through our allied professionals and;
- Helping you locate and purchase a suitable property.
Apply now for the Borrowing SMSF
Apply now for the No Borrowing SMSF
Apply now for the SMSF Administration Package.
Taxation of super
Taxation laws apply to superannuation funds in as much the same way as they apply to individuals or companies, but at concessional rates. That is, the fund pays tax on its net income after expenses and just like individuals, the income of a superannuation fund includes interest income; dividends; distributions from managed investments and rental income if the fund invests in property. However, the definition of the income for super funds is extended to include contributions made to the fund. These contributions, broadly speaking, can come either from a pre-tax source, like those paid by your employer, or an after tax source, like those paid by you from your bank account.
Thank you for taking the first step to control your retirement destiny. There is some information we need to be able to set up your fund. Please ensure you have the following:
- The name you have nominated for your fund (eg. The Smith Family Superannuation Fund)
- The names, dates of birth, address details and tax file numbers of each member
- Decide if you are going to use individual trustees or corporate trustee
- if you decide on a corporate trustee, the name you would like to use when we register this company for (for example the Smith Family Trustee Services Pty Ltd)
- Identifications: drivers license, Medicare cards and passports for each member. You will not need all of these, just enough for us to establish your identity.