Self Managed Superannuation

If the idea of being in control of your super funds appeals, but the hard work puts you off, TWR Group can help.

Would you like to have more control over your superannuation fund? Then a Self-Managed Super Fund (SMSF) may be the answer. However, ‘self-managed’ means exactly that—you are responsible for researching and tracking your superannuation investments regularly. This can lead to a headache without adequate knowledge! We assist over 200 SMSF’s with their compliance obligations and make the process as seamless as possible.

Ensure your retirement is well funded

We have a dedicated, experienced team of SMSF specialists to guide you through all things SMSF; from setup, accumulation, pension phases to the eventual wind up of the fund. Our services include:

  • Guiding trustees through the roles and responsibilities involved in running an SMSF
  • Setup, Rollovers and Administration of your SMSF
  • Preparation of Annual Financial Report and Income Tax Returns
  • Audit of the Financial Report
  • Assistance with investment acquisitions whether it be shares, property, managed funds or any other investments you’re considering
  • Estate and Succession planning
  • Assistance with Superannuation Fund Insurance Policies
  • Setup and monitoring of Pensions
  • Retirement Planning.

TWR Group have a team of registered SMSF auditors and can ensure your audits are completed quickly and efficiently.

Get the right Super Fund advice

Deciding whether to establish your own Self-Managed Super Fund (SMSF) can be tricky. We highly recommend that you work with one of our business strategy consultants for valuable advice and a better understanding of your strategic options to determine the best outcome for your needs. Common SMSF questions include:

A Self Managed Super Fund is a superannuation fund that is regulated by the Australian Taxation Office (ATO) and all members of the fund must be trustees of the fund. There are exceptions to this rule, such as, a member who is a minor, or, one who is under legal disability. In such cases, regulatory provisions state that a member of the SMSF cannot be the trustee of the fund.

The many benefits of creating an SMSF include:

  • SMSF gives members unique control of their investments within the legal framework
  • Maximum tax payable on earnings is 15 percent
  • The tax is payable in the year a gain is realised
  • SMSFs allow control of the timing for asset disposal, meaning that realisation of gains can be deferred until such time that assets are supporting an Account Based Pension, when the income is taxed at 0%
  • SMSF is a prerequisite for an Account Based Pension
  • SMSFs can invest up to 100% of the fund’s total assets in “Business Real Property”.

No, establishment of an SMSF is an expense of a capital nature.

Resident SMSF receives concessional tax treatment (maximum tax payable on earning is 15%). A non-resident fund is subject to 47% tax on the fund assets.

The legislation does not state exact types of investment in which a SMSF can invest. Some investment practices are restricted, the aim being to protect the assets against overexposure to undue risk. The main purpose of the investment is to generate and grow retirement benefits for the members.
Please note restrictions on investments:

  • lending to members and their relatives
  • acquiring assets from ‘related parties’ of the fund
  • borrowing
  • investing in ‘in-house’ assets
  • all the investments need to follow the two main rules: “sole purpose test” and “arms length”
  • It is the duty of the SMSF trustees to separate the SMSF assets from their own personal assets, or assets belonging to their business
  • SMSF assets cannot be used for personal or business purposes, this representing the “sole purpose test” i.e. the funds in the fund is aimed for the retirement purposes only, and cannot generally be accessed until retirement.
How can we help?

We help take businesses to the next level. Contact us on (07) 3284 4582 or chat online with our friendly staff Monday to Friday.

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