Self managed super funds

Choosing TaxConsult as your Self Managed Super Funds advisor means you’ll receive professional, independent advice on your Self Managed Super Funds investment strategy, along with comprehensive management and seamless service. It requires a deep understanding of financial markets, investment strategies, and continuous compliance with legal regulations. Leave the paperwork to us.

Setting up SMSF

If you’re in Adelaide and looking to set up a SMSF, TaxConsult is the ideal firm to contact. We offer integrated financial planning, bookkeeping, finance, and more, all ready to assist you in setting up a SMSF.

In Australia, over a million individuals have taken control of their super and set up their own Self Managed Superannuation Fund (SMSF).

Setting up and running a Self-Managed Super Fund (SMSF) gives you greater control over where your superannuation funds are invested. SMSFs can also provide access to a wider selection of investments, such as direct shares and direct private and commercial property investing.

SMSF services we offer:

SMSF setup
SMSF compliance
SMSF administration
Insurance within your SMSF
SMSF property purchase assistance
SMSF Financial and Investment advice

Auditing SMSF

Manage Your Super SMSF Auditors specializes in Self Managed Superannuation Fund (SMSF) Audits. We offer SMSF services to SMSF Accountants, SMSF Administrators, SMSF Financial Planners, and SMSF Trustees.

We believe that by focusing on specialization, we can offer cost-effective services and provide sound guidance to our clients in the area of SMSF Audit.

With our expertise, efficient practices, secure data handling, quick turnaround time, and independent SMSF reviews at a flat fee, you can effectively manage your SMSF costs.

Please call us to discuss further or to engage a specialist SMSF firm.

Tax Return for SMSF

Why do I need to file a SMSF Tax Return in Adelaide?

It’s the law! Every Self Managed Super Fund is legally required to lodge a tax return with the Australian Tax Office annually. This is in addition to your annual personal tax return.

TaxConsult specializes in managing Self Managed Super Funds in Adelaide. Our team of experienced SMSF professionals are ready to help you lodge your Adelaide SMSF Tax Return.

Administration

We can deliver your end-of-financial-year report package.
This package includes your Financial Reports, Income Tax Return, and Members Statements.
We will also explain what these reports mean and how they can benefit you.
We can establish and ensure the tax compliance and audit of your self-managed super fund, potentially saving you thousands in tax.

FAQ

1. What is the tax rate for SMSF?

Like any super fund, the income and investment returns of an SMSF are only taxed at the 15% concessional tax rate.

2. What are the 5 basic types of superannuation funds?

Basically, there are five main types of funds: retail funds, public sector funds, corporate funds, self-managed funds and, our favourite, industry super funds.

3. What is the best bank for self managed super fund in Australia?

If you are interested in opening a SMSF bank account as an individual investor, you can control your SMSF cash flow with a Macquarie Cash Management Account (CMA), or learn more about managing your SMSF with our comprehensive toolkit.

4. Which is the best account for SMSF?

Macquarie cash management accounts are very popular amongst SMSFs due to the ease of setup (being entirely online) and the higher interest rates they pay on savings.

5. How do self-managed super funds work?

A self-managed super fund (SMSF) is a private super fund that you manage yourself. SMSFs are different to industry and retail super funds. When you manage your own super, you put the money you would normally put in a retail or industry super fund into your own SMSF. You choose the investments and the insurance.

6. What is the 5 rule for SMSF?

You must also ensure the market value of your fund’s in-house assets doesn’t exceed 5% of the total market value of your fund’s assets.

7. What is the maximum withdrawal from SMSF?

Apart from the member’s super balance there is no restriction on the amount that can be withdrawn as a lump sum payment.

8. What is the minimum balance for SMSF?

There is no statutory minimum balance to start an SMSF. The government and most companies focus on the minimum dollar amount that is suitable for setting up an SMSF. Superannuation Warehouse makes SMSF’s available to many more individuals by keeping the setup and monthly fees as low as possible.

9. What is the tax rate for SMSF?

Like any super fund, the income and investment returns of an SMSF are only taxed at the 15% concessional tax rate.

10. Is superannuation the same as a pension?

A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.

Self Managed Super Funds Adelaide